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Microchip Technology stock price: MCHP heads into Monday after earnings outlook and mixed analyst calls
Microchip Technology (MCHP) stock fell 2.6% on Friday following mixed earnings guidance and analyst reactions. The company reported a 15.6% jump in fiscal Q3 net sales and projected Q4 sales of $1.24-$1.28 billion, but a global memory shortage poses a concern. While analyst ratings are split, with some cutting targets due to lingering supply chain issues and others raising them based on strong margins, BlackRock disclosed a significant 10% stake in the company.