Tech stocks were again flat Tuesday, as analysts were all over the place on a variety of sector stocks.
Microchip Technology(MCHP Quote) was tumbling 10.2%, after guiding below Wall Street's fiscal second-quarter revenue estimates. The company sees net sales of between $258 million and $259 million, below the $267.3 million forecast. The chipmaker sees non-GAAP earnings of 38 cents a share, which beat analysts' 36 cents a share projection, but was below prior guidance. AmTech Research downgraded the stock to neutral from buy. Shares were sliding $3.75 to $32.87.
Video game maker Electronic Arts(ERTS Quote) was edging 1.9% higher after Citigroup initiated coverage of the stock with a buy rating. The bank set a $75 price target. Shares were gaining $1.09 to $59.60. ...
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