Microchip Technology (NASDAQ:MCHP) Favorite Low Beta Semi Pick of Susquehanna

Microchip Technology (NASDAQ:MCHP) is the top pick of Susquehanna in the low beta segment, as their risk appears to be lower as lead times have shrunk.

Susquehanna noted, "we believe the risk that another shoe will drop is lower for MCHP than others in the group because its lead times have come down. MCHP remains our favorite low beta semiconductor name."

They raised their due to their full year 2011 and full year 2012 EPS estimates from $2.34 and $2.50 to $2.36 and $2.53.

Susquehanna maintains a "Positive" rating on Microchip Technology (MCHP), which was trading at $37.07, down $0.82, or 2.16 percent, as of 2:35 PM EST.

Even with their strong performance, valuation at the low end of the range caused Susquehanna to increase their price target on Microchip Technology from $38 to $44.