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Why Microchip (MCHP) Stock Might be a Great Pick

·2 min read

One stock that might be an intriguing choice for investors right now is Microchip Technology Incorporated MCHP. This is because this security in the Semiconductor – Analog and Mixed space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Semiconductor – Analog and Mixed space as it currently has a Zacks Industry Rank of 29 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Microchip is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

In fact, over the past 30 days, current quarter estimates have moved from $1.83 per share to $1.90 per share, while current year estimates have moved from $7.45 per share to $7.87 per share. This has helped Interactive Brokers to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Microchip Technology Incorporated Price and Consensus

Microchip Technology Incorporated Price and Consensus
Microchip Technology Incorporated Price and Consensus

Microchip Technology Incorporated price-consensus-chart | Microchip Technology Incorporated Quote

So, if you are looking for a decent pick in a strong industry, consider Microchip. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

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