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MCHP

SEMI

Piper Sandler analyst Harsh V. Kumar maintained a Neutral rating on Microchip Technology Inc (NASDAQ:MCHP) with a price target of $80, citing ongoing inventory management and positioning for recovery in H2. The company is focusing on inventory clearances, especially in the auto and industrial sectors, and aims for flat revenue in Q2. Despite the current downturn, MCHP plans to maintain capex and has won a $162 million grant through the CHIPS Act, positioning it well for future cycles. Kumar forecasts Q4 revenue and EPS at $1.33 billion and $0.57, respectively. MCHP stock has gained over 24% in the last 12 months and is part of the Columbia ETF Trust I Columbia Seligman Semiconductor And Technology ETF (NYSE:SEMI) and First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL).

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 3:12 pm

ARKB

FBTC

GBTC

IBIT

Spot Bitcoin ETFs experienced their third consecutive week of net outflows, totaling $435 million, with Grayscale's GBTC seeing the largest outflow of $454.1 million. Despite this, new issuers saw inflows, and the trend occurs as Australia considers approving spot Bitcoin ETFs, indicating a growing global market. Bitcoin's price action and the future of digital assets are key topics of interest.

Portfolio Pulse from Ivan Crnogatić

April 29, 2024 | 3:10 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares surged after the California Air Resources Board approved the 2024 Mullen THREE for the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), making it eligible for up to $45,000 in cash vouchers plus a $7,500 federal tax credit. This approval significantly reduces the net cost of the Mullen THREE, enhancing its attractiveness to businesses looking to electrify their fleets. The stock experienced heavy trading volume, with over 21.2 million shares traded, far exceeding its 100-day average.

Portfolio Pulse from Erica Kollmann

April 29, 2024 | 3:09 pm

TECH

TMO

Bio-Techne's stock price increased following the announcement of a distribution agreement with Thermo Fisher Scientific.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:07 pm

AAPL

APH

FLEX

GLW

JBL

BofA Securities highlighted Jabil, Flex, Amphenol, and Corning as companies that could benefit from the next Apple product cycle, based on Apple's list of top suppliers. Apple remains a significant part of Jabil's revenue, and Amphenol provides essential components for the iPhone. Corning also remains a key supplier. BofA maintains a Buy rating on Apple with a $225 price target, anticipating strong iPhone upgrade cycles driven by generative-AI features.

Portfolio Pulse from Erica Kollmann

April 29, 2024 | 3:06 pm

VINC

Vincerx Pharma's shares are trading higher after the company announced a proposed underwritten public offering of common stock and warrants, reversing earlier losses.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:04 pm

SHIBUSD

Shiba Inu (CRYPTO: SHIB) has seen a 4.47% decrease in price over the last 24 hours, continuing a negative trend with a 13% loss over the past week. The trading volume for SHIB has decreased by 45%, while the circulating supply has slightly increased by 0.08%, leading to a current market cap of $13.96 billion, ranking it #12.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:03 pm

NEARUSD

NEAR Protocol (CRYPTO: NEAR) has seen a 6.8% price drop in the last 24 hours, continuing a negative trend with a 2.0% loss over the past week. The trading volume decreased by 31.0%, while the circulating supply slightly increased by 0.13%, leading to a current market cap ranking of #19 at $7.30 billion.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:02 pm

SOLUSD

Solana (CRYPTO: SOL) has seen a decrease of 3.9% in its price over the last 24 hours, marking a continuation of its downward trend with a total decrease of 12.0% over the past week. The current price is $136.62, down from $153.2. The trading volume for Solana has dropped by 33.0%, and its circulating supply decreased by 0.3% to 447.28 million, placing its market cap ranking at #5 with a value of $61.11 billion.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:02 pm

VVPR

VivoPower International's stock price increased following the announcement of the sale of its Kenshaw Electrical unit.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:02 pm