Market Overview

Morgan Stanley Sees Microchip Technology As Fairly Valued

Related MCHP
2 'Hidden Gem' Semiconductor Plays In 3 Charts
CNBC's Stock Pops & Drops From December 3
Making Money With Charles Payne: 10/10/14 (Fox Business)

In a report published Wednesday, Morgan Stanley analyst Craig Hettenbach reiterated an Equal-Weight rating on Microchip Technology (NASDAQ: MCHP).

In the report, Morgan Stanley noted, “Upside in the quarter was driven by growth in MCUs, while analog cooled a bit following a strong Q4. Excluding contribution from the Supertex acquisition, sales were guided roughly 1% below the Street. EPS guidance of $0.66 is in line, but includes $0.01 in accretion from Supertex. In MCUs, we see significantly greater operating leverage at Atmel to the gradually improving semi-cycle (19 points below peak OM vs. 3.5 points for Microchip), as well as optionality around M&A value and buybacks.”

Microchip Technology closed on Tuesday at $46.35.

Latest Ratings for MCHP

DateFirmActionFromTo
Dec 2014Goldman SachsReinstatesNeutral
Dec 2014CitigroupMaintainsBuy
Oct 2014Credit SuisseMaintainsOutperform

View More Analyst Ratings for MCHP
View the Latest Analyst Ratings

Posted-In: Craig Hettenbach Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (MCHP)

Around the Web, We're Loving...

Get Benzinga's Newsletters