Microchip Technology Incorporated (MCHP - Free Report) was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $98.46 to $107.60 in the past one-month time frame.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has 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 has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.
Microchip Technology Incorporated Price
Investors interested in the Semiconductor - Analog and Mixed industry may consider MACOM Technology Solutions Holdings, Inc. (MTSI - Free Report) , which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is MCHP going up? Or down? Predict to see what others think: Up or Down
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>