Stock Trending Alert: Microchip Technology Incorporated (NASDAQ:MCHP),

Microchip Technology Incorporated (NASDAQ:MCHP) stock recorded daily change of -0.61% to close at $95.23  in last trading session and traded volume of 1896142 shares along average volume of 2398612 shares 52 week range of the stock remained $ 75.8 – 101.48 while its day low price was $94.35 and its hit its day high price at $95.98. Its previous closing value stands at $95.81. MCHP total market capitalization is $22316491819. Currently stocks EPS is $3.23 while its price to earnings ratio is 29.52

Right now MCHP beta is 1.11. The average volatility for the week and month was at 1.56% 2.20% respectively. There are 231.99M shares outstanding and 229.32M shares are floated in market. The stock was up in the 5 days activity 1.51%. The one month performance of stock was 12.49%. MCHP shares are at 7.54% for the quarter and driving a 16.56% return over the course of the past year and is now at 8.36% since this point in 2018.

Microchip Technology Incorporated (NASDAQ:MCHP), a leading provider of microcontroller, mixed-signal, analog and flash-IP solutions, today announced that Microchip has completed its previously announced acquisition of Microsemi Corporation.  The shareholders of Microsemi overwhelmingly approved the merger with 99.5% of the Microsemi shares that voted being in favor of the merger.  As a result of the completion of the transaction, trading in Microsemi common stock on the NASDAQ Stock Market will cease today.

Steve Sanghi, CEO said “We are very pleased to have completed our acquisition of Microsemi”.  “I welcome the Microsemi employees into the Microchip family and look forward to working together to realize the benefits of a combined team pursuing a unified strategy.  The Microsemi acquisition will significantly enhance our product portfolio, end-market diversification, operational capabilities and customer scale.”

Under the terms of the merger agreement, Microsemi shareholders received $68.78 per share in cash for each share of Microsemi common stock. The transaction is expected to be immediately accretive to Microchip’s non-GAAP earnings per share.  Based on currently available information, Microchip anticipates achieving an estimated $300 million in synergies in the third year after close of transaction.  Microchip financed the transaction with cash from the combined company balance sheets, borrowings from Microchip’s existing line of credit, $3 billion from a new term loan and $2 billion from newly issued high-grade secured bonds.  Microsemi’s previously outstanding debt was retired in conjunction with the closing of the transaction.

Shares of Microchip Technology Incorporated have been recently spotted trading -6.16% off of the 52-week high price. On the other end, company shares have been noted 25.63% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 75.80 – 101.48. Switching over to some distances from popular moving averages, we see that the stock has been recorded 5.38% away from the 50 day moving average and 5.92% away from the 200 day moving average. Moving closer, we can see that shares have been trading 4.43% off of the 20-day moving average. 14234 employees work in the Company. It has market cap of $22.09B and dividend yield of 1.52%.

Category – Technology

Grady Lawley is a blogger and press writer, has worked on topics like earnings reports, hot stocks and market news. He is an experienced professional with 10+ years in research, analysis and reporting. He enjoys taking complex ideas and translating them into content aimed at the general public. He has personal interests in health, fitness, animal care, gardening, travel, world politics, and current social issues, but always willing to learn something new. Grady has a Masters in Applied Finance and Investment. He specializes in income trading using options, is very conservative in his style and believes patience in waiting for the best setups is the key to successful trading. He covers articles for Technology category.

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