Microchip Stock Is Rising. Why Wall Street Thinks It May Have Hit Bottom. - Barron's
1. MCHP beat earnings forecasts with adjusted earnings of 11 cents a share. 2. Revenue grew to $971 million, surpassing estimates of $963 million. 3. First-quarter revenue guidance raised to $1.02-$1.07 billion. 4. CEO claims the company hit the bottom of its down cycle. 5. Analysts exhibit divided opinions, with some upgrading and others remaining cautious.