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IFNNY - Microchip Trading More Reasonably And With Future Margin Leverage
Infineon Technologies AG ADR
Quality has never been my issue with Microchip (MCHP). I like this leading player in microcontrollers (or MCUs), but valuation has often been more difficult for me. Since my last update, though, the shares have underperformed the chip sector by about 10% and the valuation is a little more appealing. Microchip certainly has elevated debt, but I expect the company to continue generating robust cash flow and I like the company’s market exposures on balance.
Microchip isn’t a clear-cut bargain, but then I wouldn’t expect that with a company that has leading