Microchip Technology Rises On Unusually High Volume (MCHP)
Microchip Technology (Nasdaq:MCHP) is trading at unusually high volume Friday with 4.2 million shares changing hands. It is currently at two times its average daily volume and trading up $2.65 (+7.8%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Microchip Technology (Nasdaq: MCHP) is trading at unusually high volume Friday with 4.2 million shares changing hands. It is currently at two times its average daily volume and trading up $2.65 (+7.8%) at $36.59 as of 12:42 p.m. ET.
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Microchip Technology has a market cap of $6.7 billion and is part of the technology sector and electronics industry. Shares are up 5% year to date as of the close of trading on Thursday. Microchip Technology Incorporated engages in the development, manufacture, and sale of semiconductor products for embedded control applications. The company has a P/E ratio of 32.6, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Microchip Technology as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Microchip Technology Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.