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Actionable news in MCHP: Microchip Technology Incorporated,

Microchip Technology (MCHP) Stock Pops, Price Target Increased at Credit Suisse

NEW YORK (TheStreet) -- Shares of Microchip Technology (MCHP) were surging 7.73% to $61.01 in late morning trading on Tuesday as Credit Suisse raised its price target to $67 from $52 on the Chandler, AZ-based semiconductor company this morning.

The firm maintained its "outperform" rating on the stock but said investors should appreciate what Microchip has done with "sub-par assets," Barron's reports.

"While organic growth rate and valuation continue to be areas of concern for many investors, we continue to highlight the company's impressive track record of buying sub-par assets and driving significant accretion:...