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Microchip Technology (MCHP) Catches Eye: Stock Jumps 7.1%
Microchip Technology Inc. (MCHP - Free Report) was a big mover last session, as the company saw its shares rise 7% on the day. The upside was driven by the company’s announcement of record earnings in the first quarter of fiscal 2017, after the market closed on Aug 8. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $52.35–$57.34 in the past one-month time frame.
In the last 30 days, the company has seen no estimate revision and the Zacks Consensus Estimate 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 carries a Zacks Rank #3 (Hold).
MICROCHIP TECH Price
MICROCHIP TECH Price | MICROCHIP TECH Quote
A better-ranked stock from the Semi-Analog & Mixed industry MaxLinear, Inc. (MXL - Free Report) , which holds a Zacks Rank #2 (Buy).
Is MCHP going up? Or down? Predict to see what others think: Up or Down
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