Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Microchip Technology, Inc.    MCHP

MICROCHIP TECHNOLOGY, INC.

(MCHP)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Wall St slips as losses in communication services shares weigh

10/19/2020 | 11:58am EST

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* Pelosi sets Tuesday deadline for COVID-19 aid deal

* Halliburton posts fourth straight quarterly loss

* IBM set to report results after markets close

* Indexes down: Dow 0.16%, S&P 0.16%, Nasdaq flat

Oct 19 (Reuters) - The S&P 500 edged lower in choppy trading on Monday as losses in shares of communication services companies eclipsed optimism on a coronavirus relief deal before the Nov. 3 presidential election.

U.S. stocks had opened higher after House Speaker Nancy Pelosi said she was optimistic legislation could be pushed through before the election, but acknowledged an agreement would have to come by Tuesday for that to happen.

Last week the White House proposed a $1.8 trillion stimulus package to help Americans struggling with the economic ravages of the coronavirus pandemic, but Pelosi said the offer fell short in a range of areas and stuck to her demand for $2.2 trillion in aid.

"It's just the general volatility here. I wouldn't be surprised to see this bouncing around all day," said Tony Bedikian, head of global markets at Citizens Bank.

"The headlines around stimulus talks are going to be the primary driver for markets this week."

Wall Street's fear gauge rose for a sixth straight session as election campaigns kicked into high gear, with early voting starting in Florida, a battleground state that could decide the presidential election.

President Donald Trump and his Democratic challenger Joe Biden will debate for a final time on Thursday.

The communication services index dropped about 1%, with all major S&P sectors trading lower.

At 11:16 a.m. ET, the Dow Jones Industrial Average was down 44.35 points, or 0.16%, at 28,561.96, the S&P 500 was down 5.65 points, or 0.16%, at 3,478.16. The Nasdaq Composite was up 1.41 points, or 0.01%, at 11,672.97.

After the financial sector set a mixed tone to the start of the third-quarter earnings season, investors will look to results from about 91 S&P 500 companies this week including International Business Machines Corp and Netflix Inc .

Oilfield services provider Halliburton Co posted a fourth consecutive quarterly loss as this year's slump in oil prices due to the COVID-19 pandemic hit demand for its services. Its shares, however, rose about 1%.

ConocoPhillips slipped 1.8% as it agreed to buy U.S. shale oil producer Concho Resources Inc for $9.7 billion as the energy sector continued to consolidate. Concho fell 1.1%.

Chipmaker Microchip Technology Inc gained about 2.6% after Morgan Stanley upgraded the stock to "overweight".

Advancing issues outnumbered decliners by a 1.43-to-1 ratio on the NYSE and by a 1.37-to-1 ratio on the Nasdaq.

The S&P index recorded 25 new 52-week highs and one new low, while the Nasdaq recorded 81 new highs and 17 new lows. (Reporting by Medha Singh and Shivani Kumaresan in Bengaluru; Editing by Shounak Dasgupta and Anil D'Silva)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.54% 30046.24 Delayed Quote.3.69%
MICROCHIP TECHNOLOGY, INC. 1.47% 133.56 Delayed Quote.27.54%
NASDAQ 100 1.46% 12079.806406 Delayed Quote.36.33%
NASDAQ COMP. 1.31% 12036.785414 Delayed Quote.32.12%
NETFLIX, INC. 1.31% 482.88 Delayed Quote.49.24%
S&P 500 1.62% 3635.41 Delayed Quote.12.52%
All news about MICROCHIP TECHNOLOGY, INC.
11/23MICROCHIP TECHNOLOGY INC : Creation of a Direct Financial Obligation or an Oblig..
AQ
11/20S&P 500, Dow dip on concerns over rising COVID-19 infections
RE
11/20MICROCHIP TECHNOLOGY : MCHP Announces Private Placement of Convertible Notes and..
PU
11/20MICROCHIP TECHNOLOGY INC : Entry into a Material Definitive Agreement, Creation ..
AQ
11/20MICROCHIP TECHNOLOGY INCORPORATED : Announces Private Placement of $609 Million ..
AQ
11/20Microchip Technology Incorporated Announces Private Placement of $609 Million..
GL
11/19MICROCHIP TECHNOLOGY : Officers Certificate 2027 Notes November 2020.111920.
PU
11/19MICROCHIP TECHNOLOGY : Officers Certificate 2025 Debentures November 2020.111920..
PU
11/19MICROCHIP TECHNOLOGY : Officers Certificate 2037 2250 Notes November 2020.111920..
PU
11/19MICROCHIP TECHNOLOGY : Notice to Conversion Rate Adjustment 225 2037 Notes Novem..
PU
More news
Financials (USD)
Sales 2021 5 345 M - -
Net income 2021 455 M - -
Net Debt 2021 8 413 M - -
P/E ratio 2021 79,5x
Yield 2021 1,10%
Capitalization 34 776 M 34 776 M -
EV / Sales 2021 8,08x
EV / Sales 2022 7,05x
Nbr of Employees 18 000
Free-Float 93,4%
Chart MICROCHIP TECHNOLOGY, INC.
Duration : Period :
Microchip Technology, Inc. Technical Analysis Chart | MCHP | US5950171042 | MarketScreener
Technical analysis trends MICROCHIP TECHNOLOGY, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Average target price 134,45 $
Last Close Price 133,56 $
Spread / Highest target 12,3%
Spread / Average Target 0,67%
Spread / Lowest Target -11,7%
EPS Revisions
Managers
NameTitle
Steve Sanghi Chairman & Chief Executive Officer
Ganesh Moorthy President & Chief Operating Officer
James Eric Bjornholt Chief Financial Officer & Senior Vice President
Matthew W. Chapman Independent Director
L. B. Day Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
MICROCHIP TECHNOLOGY, INC.27.54%34 271
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED48.64%450 943
NVIDIA CORPORATION123.37%325 346
INTEL CORPORATION-24.16%188 754
QUALCOMM INCORPORATED65.51%162 660
BROADCOM INC.22.46%156 542