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Stock impact report

Microchip Technology Weak Outlook Pressures Other Chipmakers [TheStreet.com]

Marvell Technology, Inc. (MRVL) 
Last marvell technology, inc. earnings: 3/4 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: marvell.com/company/investor_relations
Company Research Source: TheStreet.com
Microchip Technology Weak Outlook Pressures Other Chipmakers The semiconductor sector was under pressure Wednesday after Microchip ( MCHP Get Report The Chandler, Ariz., company's outlook is worse than its peers, according to a Cowen note, but that hasn't stopped investors from selling off some big names in the sector. Three Action PLUS stocks -- Marvell ( MRVL LRCX NVDA Analysts at Cowen affirmed a market-perform rating on Microchip Tech while lowering its price target by a dollar to $89. Cowen was one of the only firms to take a bearish turn on the stock, however. Raymond James maintained its strong-buy rating and $115 price target, stating that it is actually "more comfortable" due to "channel inventory near a historic low, much more reasonable expectations and management commentary no longer pointing to a bonanza." Morgan Stanley raised its price target on Microchip to $90 from $84 due to factors like positive inventory trends and a pickup in October business. Citi raised its Show less Read more
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