Microchip Should Outlast the Latest Round of Trade Tensions; Maintain $112 FVE, Shares Undervalued
Microchip Technology reported solid fiscal fourth-quarter results in light of a sluggish demand environment for the firm's microcontrollers and analog semiconductors. The company's outlook for the June quarter was a bit soft, as the heightened risk this week of a prolonged trade war between the U.S. and China has given Microchip some hesitancy in pronouncing a chip demand recovery. Looking at the long term, we still think Microchip is well exposed to secular trends of rising chip content per aut...Microchip Technology develops, manufactures and sells semiconductor products. The company's product portfolio comprises general purpose and other eight-bit, 16-bit, 32-bit microcontrollers, 32-bit microprocessors, field-programmable gate array products, a range of linear, mixed-signal, power management, thermal management, discrete diodes, Metal Oxide Semiconductor Field Effect Transistors, radio frequency, timing, timing systems, safety, security, wired connectivity and wireless connectivity devices, serial Electrically Erasable Programmable Read Only Memory, Serial Flash memories, Parallel Flash memories, Serial Electrically Erasable Random Access Memory and serial Static Random Access Memory.
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