Markets

Microchip Technology (MCHP) Looks Good: Stock Adds 5.1% in Session

Microchip Technology Incorporated MCHP was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $91.00–$100.02 in the past one-month time frame, witnessed a sharp increase yesterday.

The company has seen four negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Microchip Technology currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.  

Microchip Technology Incorporated Price

Microchip Technology Incorporated Price

Microchip Technology Incorporated price | Microchip Technology Incorporated Quote

Investors interested in the Semiconductor – Analog and Mixed industry may consider MACOM Technology Solutions Holdings, Inc. MTSI, which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is MCHP going up? Or down? Predict to see what others think:Up or Down

More Stock News: This Is Bigger than the iPhone!
 
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
 
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
 
Click here for the 6 trades >>


Click to get this free report

Microchip Technology Incorporated (MCHP): Free Stock Analysis Report

MACOM Technology Solutions Holdings, Inc. (MTSI): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos