Tuesday, June 7, 2016

Microchip Technology - Chart of the Day

Microchip Technology (MCHP) is the Barchart Chart of the Day.  The semiconductor company has a Trend Spotter buy signal, a Weighted Alpha of 18.80+ and gained 11.44% in the last year.

The Chart of the Day belongs to Microchip Technology (MCHP).  I found the semiconductor stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month, then again for technical buy signals of 80% or better.  Next I used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 5/24 the stock gained 5.62%.

Microchip Technology, Inc. develops and manufactures specialized semiconductor products used by its customers for a wide variety of embedded control applications. Its product portfolio comprises microcontrollers; application-specific standard products; and related mixed-signal and memory products. The company markets its products to the consumer, automotive, office automation, communications and industrial markets.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchat technical indicators:

  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 10.30% in the last month
  • Relative Strength Index 74.94%
  • Technical support level at 51.43
  • Recently traded at 52.88 with a 50 day moving average of 49.16
Fundamental factors:
  • Market Cap $ 11.30 billion
  • P/E 20.53
  • Dividend yield 2.78%
  • Revenue expected to grow 50.30% this year and another 3.90% next year
  • Earnings estimated to increase 18.30% his year, an additional 17.00% next year and continue to compound at an annual rate of 9.70% for the next 5 years
  • Wall Street analysts issued 4 strong buy, 5 buy, 4 hold and 1 under perform recommendation on the stock

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