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Microchip Technology IncorporatedMM

Microchip Technology Incorporated

51.72USDR
+0.72+1.41%
Last update at Mar 21, 23:57 GMT
52.60USD
+0.88+1.70%
No tradesPre-marketLast update at 09:17 GMT
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MCHP trade ideas

$MCHP $90 target As with the majority of Chip\semi stocks sentiment and price action is bullish. Lets have a look at the charts for a insight pre earnings Average analysts rating $101.80 \ Buy Short interest 13% 33 p/e ratio Company Profile Microchip Technology, Inc. engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products. The Technology Licensing segment offers license fees and royalties associated with technology licenses for the use of SuperFlash embedded flash and Smartbits one time programmable technologies. The company was founded on February 14, 1989 and is headquartered in Chandler, AZ.
NASDAQ:MCHPLong
by Bullishcharts
4
Microchip Tech Inc Jumps afterhoursPost market news release CHANDLER, Ariz., Jan. 06, 2020 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today provided an update on the business environment it is experiencing. Microchip has continued to experience strong bookings since October 2019. Microchip now expects consolidated net sales for the December 2019 quarter to be $1.281 billion to $1.288 billion, or down between 3.75% and 4.25% sequentially with a mid-point of down 4%. Microchip previously provided revised guidance on December 3, 2019 for consolidated net sales to be $1.244 billion to $1.298 billion, or down between 3% and 7% sequentially with a mid-point of down 5%. "We continued to experience strong bookings in December 2019 that resulted in better than expected billings for the December 2019 quarter and improved backlog for the March 2020 quarter" said Steve Sanghi, Microchip's CEO. "The December 2019 quarter book-to-bill ratio was above 1.0 after several quarters of the book-to-bill ratio being below 1.0. The opening backlog for the March 2020 quarter is currently significantly higher than the opening backlog was for the December 2019 quarter. Microchip is seeing strength coming from all major geographies including the U.S., Europe and Asia, as well as several major end markets including data center, industrial and automotive." "Based on several inflexion points we are seeing in the business, we believe that the December 2019 quarter was the bottom of this cycle for Microchip, barring any negative developments on the U.S./China trade front or unexpected fallout from geopolitical events. We are preparing our factories and subcontractors to be able to deliver better than mid-single digit percentage sequential revenue growth in the March 2020 quarter. We will provide sales and earnings guidance for the March 2020 quarter on February 4, 2020 via our quarterly earnings release and conference call," concluded Mr. Sanghi.
NLong
by Bullishcharts
1
$MCHP Breakout to All Time HighHere we can see $MCHP has completed a two year-long Head and Shoulder pattern. Furthermore, to add to our bullish bias for a breakout to all time highs, a smaller Ascending Triangle has formed as part of the right shoulder. Also, this Ascending Triangle almost has the same resistance as the larger Head and Shoulder pattern. A breakout for the Ascending Triangle would almost certainly mean a breakout for the larger pattern and that's just what we got! Having completed the breakout of this chart pattern, I look for MICROCHIP TECHNOLOGY to stay on its journey to new all time highs; targeting price: $142.37 If you found this idea to be informational or helpful, consider leaving a like or comment! Cheers
NLong
by TheLuckyS7ven
$MCHP Strong Buy upgrade for Microchip TechnologyPossible entry level $98 = Target price $105 @ Fib extension. High short interest of 13% coming into earnings. Upgrades pre earnings may be a sign of analysts not wanting to get caught offside, expecting good things. Technically the stock has been and looks set to continue in a bullish uptrend. A breakout is on the cards if earnings are good. RSI and price are reaching decision time. Upgrade details oct30th Microchip (MCHP +0.8%) is raised from Market Perform to Strong Buy at Raymond James with a $115 target. The firm cites its "increasingly constructive view" on the semi market with checks and peer reports from the likes of Texas Instruments showing that current conditions are getting neither better than worse, which is a positive after a downturn.Raymond James says current revenue run rates are allowing the inventory backup to drain from the channel. Source seeking alpha. Company profile Microchip Technology, Inc. engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products. The Technology Licensing segment offers license fees and royalties associated with technology licenses for the use of SuperFlash embedded flash and Smartbits one time programmable technologies. The company was founded on February 14, 1989 and is headquartered in Chandler, AZ.
NLong
by Bullishcharts
Apple may help Microchip Technology get through the $100 barrierAverage analysts price target $105.16 Yield 1.6% P/E ratio 62 Short Interest 14.34% Company profile Microchip Technology, Inc. engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products. The Technology Licensing segment offers license fees and royalties associated with technology licenses for the use of SuperFlash embedded flash and Smartbits one time programmable technologies. The company was founded on February 14, 1989 and is headquartered in Chandler, AZ
NLong
by RedHotStocks
Trade a short squeeze into earrings with Microchip Tech.Contrarian is sometimes best, we look for something that everyone hates and have low expectations on, MCHP certainly fits that rationale, which is confirmed by the high short interest. AS earnings approach we see a good risk reward trade with a tight stop loss, anything positive after hours could lead to a nice short squeeze. AVERAGE ANALYSTS PRICE TARGET $106 AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT P/E RATIO 58 SHORT INTEREST 15 % COMPANY PROFILE Microchip Technology, Inc. engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products. The Technology Licensing segment offers license fees and royalties associated with technology licenses for the use of SuperFlash embedded flash and Smartbits one time programmable technologies. The company was founded on February 14, 1989 and is headquartered in Chandler, AZ.
NLong
by RedHotStocks
MCHP: Semiconductor Stock Topped, Now Look for Strong SupportMicrochip Technologies stock, in the Semiconductor Industry, has a top that completed in early September, seen best on the weekly chart. This is a common top right now. I see it in many topping stocks. The trading range breaks to the downside, usually on company news. The question now is WHERE will it find sufficient support to commence a bottom? The answer lies within the technical and fundamental support levels. The stock is in a bounce to rebound price action over the past couple of weeks. This is not at a strong support level. The support for MCHP stock for a final low is the highs of 2016. This also coincides nicely with the typical bottoming location based on the percentage of loss from the all-time high. About a 50% loss is where many stocks are currently finding support and where some Dark Pool Buy Zones are beginning. These Buy Zones are at the earliest of stages and are not fully developed yet. This provides 2 important analyses for trading decisions: 1. Where you need to cease selling short entirely. 2. Where you need to start watching for a bottoming Dark Pool Buy Zone formation. When you learn to do this type of analysis during a bear market, particularly a trading range bear, then you will be far ahead of the crowd. Keep in mind that many stocks WILL dig deeply into the highs of the 2016 support levels. The highs are just where you need to stop selling short. It is not necessarily the final, final destination of the stock price before a bottom commences.
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by MarthaStokesCMT-TechniTrader