What's Going On With Microchip and NXP Semiconductors Stocks Friday?
Portfolio Pulse from Anusuya Lahiri
Microchip Technology Inc (NASDAQ:MCHP) and NXP Semiconductors NV (NASDAQ:NXPI) shares are trading higher after Mizuho analyst Vijay Rakesh upgraded their stock ratings to Buy from Neutral. Rakesh set price targets of $115 for MCHP and $325 for NXPI, citing potential improvements in business sentiment and industrial outlooks.
May 24, 2024 | 5:33 pm
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POSITIVE IMPACT
Microchip Technology Inc (MCHP) shares are trading higher after Mizuho analyst Vijay Rakesh upgraded the stock rating to Buy from Neutral, setting a price target of $115. The analyst noted potential improvements in business sentiment and industrial outlooks.
The upgrade to Buy and the new price target of $115 are likely to boost investor confidence in MCHP, leading to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
NXP Semiconductors NV (NXPI) shares are trading higher after Mizuho analyst Vijay Rakesh upgraded the stock rating to Buy from Neutral, setting a price target of $325. The analyst noted potential improvements in business sentiment and industrial outlooks.
The upgrade to Buy and the new price target of $325 are likely to boost investor confidence in NXPI, leading to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100