Barclays Opens Coverage on Microchip Technology, Assigns Equalweight and $80 Target
Barclays has started coverage of Microchip Technology (MCHP) with an Equalweight rating and a $80 price target as the shares trade modestly above that level. The bank highlighted Microchip's exposure to Data Center and Aerospace & Defense markets while raising caution on microcontroller market-share pressure, high inventory days and leverage. Recen…