Microchip, On Semiconductor downgraded by Morgan Stanley (NASDAQ:ON)
2024-07-10
adventtr Microchip Technology (NASDAQ:MCHP) and On Semiconductor (NASDAQ:ON) were downgraded by Morgan Stanley on Wednesday due to valuation concerns and issues related to the automotive industry. Shares fell 2% and 2.2% respectively, in extended trading. While Microchip has only gained 11% year-to-date, far below some of its peers, the valuationContinue Reading