Microchip Technology Stock Hits New 52-Week High (MCHP)

NEW YORK ( TheStreet) -- Microchip Technology (Nasdaq: MCHP) hit a new 52-week high Thursday as it is currently trading at $38.53, above its previous 52-week high of $38.47 with 160,153 shares traded as of 10:06 a.m. ET. Average volume has been two million shares over the past 30 days.

Microchip Technology has a market cap of $7.45 billion and is part of the technology sector and electronics industry. Shares are up 16% year to date as of the close of trading on Wednesday.

Microchip Technology Incorporated engages in developing, manufacturing, and selling semiconductor products for embedded control applications.

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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, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Microchip Technology Ratings Report.

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