Market Overview

Morgan Stanley Sees Microchip Technology As Fairly Valued

Share:
Related MCHP
Citi: Buy Semiconductors After 20% Selloff
Audi Selects Microchip's MOST150 Technology for New Audi Q7 SUV's Virtual Cockpit Infotainment System
Microchip Launches New Configurable Embedded Controllers (Zacks)

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
Aug 2015JefferiesMaintainsBuy
Aug 2015Stifel NicolausMaintainsBuy
Aug 2015B RileyMaintainsNeutral

View More Analyst Ratings for MCHP
View the Latest Analyst Ratings

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

 

Related Articles (MCHP)

View Comments and Join the Discussion!

Get Benzinga's Newsletters