Microchip +1% on BMO initiation

|About: Microchip Technology Incorp... (MCHP)|By:, SA News Editor

BMO initiates Microchip (NASDAQ:MCHP) with an Outperform rating and $92 price target.

Microchip reported Q2 beats with downside guidance last week and took a hit today as Apple suppliers fell after Lumentum’s cut guidance. 

Microchip shares closed today down 3.4% but are up 1.1% aftermarket to $70.41.  

Previously: Apple suppliers drop on Lumentum guide, iPhone target cuts (Nov. 12)

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