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Rating: MCHP

Microchip Technology Incorporated (NASDAQ: MCHP) downgraded to Hold by Needham

Friday,  Oct 10, 2014  8:25 AM ET by Betsy O'Brien Harrison

Needham downgraded Microchip Technology Incorporated (NASDAQ: MCHP) to Hold. Previously Needham
downgraded to Microchip Technology Incorporated (NASDAQ: MCHP) to Buy with price target $43 on 05/03/2013, when the stock price was $37.38.

Microchip Technology, Inc. develops and manufactures specialized semiconductor products used by its customers for a wide variety of embedded control applications. Its product portfolio comprises microcontrollers; application-specific standard products; and related mixed-signal and memory products. The company markets its products to the consumer, automotive, office automation, communications andindustrial markets.

Needham & Company, LLC focuses on emerging growth companies in technology, biotechnology and life sciences. The firm's research goal is to service the needs of growth-oriented institutional clients. Needham & Company has established itself as a premier specialty investment bank providing timely and valuable analysis on companies that are under-covered by the majority of Wall Street firms.

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