The Relative Strength (RS) Rating for Microchip Technology climbed into a new percentile Wednesday, as it got a lift from 62 to 72.
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IBD's proprietary rating tracks price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 as they launch their biggest price moves. See if Microchip Technology can continue to show renewed price strength and clear that threshold.
Microchip Technology is not currently offering a proper buying opportunity. See if the stock goes on to build a chart pattern that could launch a new move.
Although earnings and sales growth came in at -81% and -27%, respectively, in the latest report, that marked one quarter of improvement for EPS and two for the top line.
Microchip Technology earns the No. 18 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. MACOM Tech Solutions, Taiwan Semiconductor ADR and Analog Devices are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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