Microchip Technology Inc (NASDAQ: MCHP) has reported earnings for its first fiscal quarter (ending June 30) of $0.24 versus $1.22 for the same period a year ago. For the latest four quarters through June 30, E.P.S. were $2.54 versus $4.37 for the same period a year ago.
Recent Price Action
Microchip Technology Inc (NASDAQ: MCHP) stock declined by -5.0% on 8/1/24. The shares closed at $84.37. Moreover, trading volume in this decline was exceptionally high at 215% of normal. The stock has been strong relative to the market over the last nine months but has declined -2.5% during the last week.
Current PriceTarget Research Rating
MCHP is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Microchip Technology has a current Value Trend Rating of D (Negative). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Microchip Technology has a very low Appreciation Score of 12 but a neutral Power Rating of 54, with the Negative Value Trend Rating the result.
Rating Review
In light of this new information we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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