Why Microchip Technology Incorporated (NASDAQ:MCHP) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $55.46 on Microchip Technology Incorporated (NASDAQ:MCHP) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $3.16 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Microchip Technology Incorporated (NASDAQ:MCHP) stands at 40.64.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Microchip Technology Incorporat, the PEG ratio for coming 3-5 years is 1.39.

Technical Analysis

The technical analysis highlights that Microchip Technology Incorporat current is trading $7.38 points away or +13.88% from its 50-day moving average of $53.17. Further it is trading $11.63 or +23.77% away its 200-day moving average of $48.92.

The 52-week high of Microchip Technology Incorporated (NASDAQ:MCHP) was $61.97 while lowest point recorded in 52-week was $37.77. It implies if stock price makes a movement of over $-1.42, it will record a new 52-week high. In the case of +60.31% drop, it will touch a new 52-week low.

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