We Foresee Margin Expansion for Wide Moat Microchip; Raising FVE to $58
Microchip reported strong second-quarter earnings that were in line with our expectations, and although the company provided investors with a seasonally soft third quarter outlook, the firm provided a bullish forecast for profitability by the end of fiscal 2018 that points to healthy operating leverage from the firm’s recent acquisition of Atmel. Additionally, we have taken a fresh look into Microchip’s competitive environment and will raise our moat rating for the firm to wide from narrow, whil...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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