Microchip Technology Reaches New 52-Week High (MCHP)

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) hit a new 52-week high Friday as it is currently trading at $37.70, above its previous 52-week high of $37.63 with 188,300 shares traded as of 9:41 a.m. ET. Average volume has been 1.9 million shares over the past 30 days.

Microchip Technology has a market cap of $7.05 billion and is part of the technology sector and electronics industry. Shares are up 10.8% 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 50.1, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Microchip Technology as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, 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 sub par growth in net income. You can view the full Microchip Technology Ratings Report.

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