On 8/2/24, Microchip Technology Inc (NASDAQ: MCHP) stock suffered a major decline of -10.6%, closing at $75.43. Moreover, exceptionally high trading volume at 258% of normal accompanied the decline. The stock has performed in line with the market over the last nine months and has declined -11.3% 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). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Microchip Technology has a neutral Power Rating of 49 but a very low Appreciation Score of 14, leading to the Negative Value Trend Rating.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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