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Fly News Breaks for February 5, 2020
MCHP
Feb 5, 2020 | 09:08 EDT
Needham analyst Rajvindra Gill raised his price target on Microchip to $140 and kept his Buy rating after its Q3 earnings beat, saying the "solid quarter" showed strength across the company's data center business, with early signs of recovery in auto and industrial IoT. The analyst also believes that Microchip has build "enough capacity" to support a return in demand and sees it on track to reach its long-term gross margin target of 63%.
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