What's Going On Microchip Technology Stock Premarket on Thursday?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 20 2025
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Source: Benzinga
Microchip Technology Offering: Microchip Technology Incorporated announced a public offering of $1.35 billion in depositary shares representing a 1/20th interest in newly issued Series A Mandatory Convertible Preferred Stock, with plans to use proceeds for capped call transactions and debt repayment.
Stock Performance: Following the announcement, MCHP shares fell 7.44% to $50.51 in premarket trading, while the company also introduced the AVR SD family of microcontrollers designed for applications requiring strict safety assurance.
Analyst Views on KNGZ
Wall Street analysts forecast KNGZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for KNGZ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 37.350
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Current: 37.350
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
