Microchip Technology (MCHP) NewsBite - MCHP Earnings Preview

Posted: Tuesday, November 03, 2009 11:08 AM EDT

Microchip Technology (NasdaqNM: MCHP) opened at $23.89. So far today, the stock has hit a low of $23.55 and a high of $23.99. MCHP is now trading at $23.89, down $0.20 (-0.83%). Over the last 52 weeks the stock has ranged from a low of $16.23 to a high of $28.11. Shares of MCHP are declining ahead of the company's third-quarter earnings report tomorrow. Analysts are expecting the stock to report a profit of 21 cents per share on revenue of $218 million. MCHP has met or exceeded analysts' forecasts in 3 of its past 4 earnings reports. Technical indicators for the stock are bullish and S&P gives MCHP a positive 5 STARS (out of 5) strong buy ranking. We will just watch this one for now. There are no hedged trades we like the look of for MCHP. [ABR-Seven Summits Strategic Investments NewsBite]

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