Morgan Stanley notes that Microchip shares were up about 10% in after-hours trading after the company provided its first formal exclusive data center revenue breakout and announced selective pricing increases. The firm finds the strength \"surprising\" as the data center numbers are basically in-line with prior commentary, there was no change to June quarter guidance and the pricing increases \"appear defensive rather than offensive,\" the analyst tells investors. The firm maintains an Equal Weight rating and $94 price target on Microchip shares.
