Microchip Technology Incorporated MCHP was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 17.2% in the past one-month time frame.
The move came after the company’s third-quarter fiscal 2019 (ended Dec 31,2018) earnings and revenues beat analyst expectations.
The company has seen one negative estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Microchip currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Microchip Technology Incorporated Price
Microchip Technology Incorporated Price | Microchip Technology Incorporated Quote
Investors interested in the Semiconductor - Analog and Mixed industry may consider Inphi Corporation IPHI, 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
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
See Stocks Today >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Inphi Corporation (IPHI) : Free Stock Analysis Report
To read this article on Zacks.com click here.