On August 16th, Microchip Technology's pre-market trading rose 2.44%, reaching $83.28. On the news front, Piper Sandler raised its target price for Microchip Technology from $90 to $100, and upgraded its rating from 'neutral' to 'shareholding'. Citigroup recently released a research report indicating that it remains bullish on the semiconductor industry and believes that spending related to artificial intelligence and memory will not slow down in the short term. From the perspective of the supply chain, the fundamentals of the PC, datacenter and mobile terminal markets (which together account for about 60% of total semiconductor demand) seem to be very solid, and semiconductor shipments are still far below terminal demand. Citigroup reiterated its 'buy' rating for Microchip Technology.