Microchip stock surges over 10% due to strong forecast, price targets raised by analysts.

From Yahoo Finance: 2025-05-09 12:25:00

Microchip Technology (MCHP) shares surged over 10% after issuing a better-than-expected forecast, with analysts raising price targets. The struggling chipmaker anticipates Q1 revenue of $1.02B to $1.07B and adjusted EPS of 18 cents to 26 cents. Despite gains, the stock has lost 40% over the past year. Jefferies analysts foresee a “sharp snap back” in the next quarters after a steep revenue decline in Q4. Citi raised its target to $55, citing strong fundamentals post-recovery. Bank of America upgraded the stock to “neutral” and raised its target to $56. CEO Sanghi believes this marks the industry’s bottom.



Read more at Yahoo Finance: Microchip Stock Jumps as Analysts Raise Price Targets on Strong Outlook