Goldman Sachs initiated coverage on Microchip Technology Incorporated (MCHP) stock with a “Buy” rating and a price target of $88.00. The firm views MCHP as a leading global supplier of microcontrollers and analog products, positioning the company for growth in a recovering sector. The microcontroller market is in the early stages of recovery, shipping below end demand levels, offering growth potential that could exceed Wall Street estimates. ClearBridge Investments added MCHP to its portfolio, citing the company’s return to prior market share levels and attractive cyclical improvement story. While MCHP shows promise, other AI stocks may offer greater upside potential and less downside risk.

Read more at Yahoo Finance: Goldman Sachs Initiates Coverage on Microchip Technology (MCHP) Stock With a Buy Rating