Price Over Earnings Overview: Microchip Technology
Portfolio Pulse from Benzinga Insights
Microchip Technology Inc.'s shares are trading at $79.87, after a 0.81% drop. Over the past month, the stock decreased by 12.08%, but over the past year, it increased by 16.56%. The company's P/E ratio is lower than the aggregate P/E of 41.54 of the Semiconductors & Semiconductor Equipment industry, indicating that the stock might be undervalued.
August 22, 2023 | 6:05 pm
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Microchip Technology's stock decreased by 12.08% over the past month but increased by 16.56% over the past year. Its lower P/E ratio compared to the industry average could indicate undervaluation.
The stock's recent decrease could be a cause for concern for short-term investors. However, the lower P/E ratio compared to the industry average could suggest that the stock is undervalued, which might attract long-term investors.
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