Needham Lifts Microchip Technology Target to $84 Citing Strengthening Demand and Margin Tailwinds
Needham raised its 12-month price target for Microchip Technology (NASDAQ:MCHP) to $84.00 from $77.00 while reaffirming a Buy rating, citing an improving demand environment and better-than-expected margin performance. The new target implies only modest upside from the shares' recent trading level, which sits near a 52-week high after strong 12-mont…