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Microchip Technology (MCHP) Catches Eye: Stock Jumps 6.7%

Zacks Equity Research

Microchip Technology Incorporated MCHP was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $98.46 to $107.60 in the past one-month time frame.

The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Microchip Technology currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.

Microchip Technology Incorporated Price

Microchip Technology Incorporated Price
Microchip Technology Incorporated Price

Microchip Technology Incorporated price | Microchip Technology Incorporated Quote

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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

The Hottest Tech Mega-Trend of All

Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>


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MACOM Technology Solutions Holdings, Inc. (MTSI) : Free Stock Analysis Report
 
Microchip Technology Incorporated (MCHP) : Free Stock Analysis Report
 
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Zacks Investment Research