Microchip Technology Analysts Slash Their Forecasts After Q1 Results
Portfolio Pulse from Avi Kapoor
Microchip Technology (NASDAQ:MCHP) reported mixed Q1 results, beating earnings estimates but missing revenue expectations. The company provided a cautious Q2 outlook, leading to a 5% drop in share price. Analysts from B of A Securities, Susquehanna, and JP Morgan lowered their price targets.
August 02, 2024 | 12:46 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Microchip Technology reported mixed Q1 results, beating EPS but missing revenue estimates. The company provided a cautious Q2 outlook, leading to a 5% drop in share price. Analysts from B of A Securities, Susquehanna, and JP Morgan lowered their price targets.
The mixed Q1 results, combined with a cautious Q2 outlook, have led to a 5% drop in MCHP's share price. Additionally, multiple analysts have downgraded their price targets, indicating a negative short-term impact on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100