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Microchip Technology (NASDAQ:MCHP) Given New $95.00 Price Target at JPMorgan Chase & Co.
JPMorgan Chase & Co. has raised its price target for Microchip Technology (NASDAQ:MCHP) from $85.00 to $95.00, maintaining an “overweight” rating and suggesting a potential upside of 24.99%. This comes amidst several other analysts also increasing their price targets for the semiconductor company, contributing to a “Moderate Buy” consensus rating with an average target of $86.27. The company recently reported Q3 earnings that surpassed analyst estimates and provided strong Q4 guidance, despite a slight dip in share price after the announcement.