Intrinsic value of Microchip Technology - MCHP

Previous Close

$71.64

  Intrinsic Value

$39.56

stock screener

  Rating & Target

sell

-45%

Previous close

$71.64

 
Intrinsic value

$39.56

 
Up/down potential

-45%

 
Rating

sell

We calculate the intrinsic value of MCHP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 16.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  24.70
  22.73
  20.96
  19.36
  17.93
  16.63
  15.47
  14.42
  13.48
  12.63
  11.87
  11.18
  10.56
  10.01
  9.51
  9.06
  8.65
  8.29
  7.96
  7.66
  7.40
  7.16
  6.94
  6.75
  6.57
  6.41
  6.27
  6.15
  6.03
  5.93
Revenue, $m
  4,964
  6,092
  7,369
  8,796
  10,373
  12,098
  13,969
  15,984
  18,139
  20,430
  22,855
  25,411
  28,095
  30,906
  33,845
  36,910
  40,102
  43,425
  46,880
  50,472
  54,204
  58,083
  62,114
  66,304
  70,661
  75,194
  79,911
  84,822
  89,937
  95,268
Variable operating expenses, $m
  4,464
  5,389
  6,435
  7,604
  8,896
  10,310
  11,844
  13,495
  15,261
  17,138
  18,730
  20,824
  23,024
  25,328
  27,736
  30,247
  32,864
  35,587
  38,418
  41,362
  44,420
  47,599
  50,902
  54,336
  57,907
  61,621
  65,486
  69,511
  73,703
  78,072
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  4,464
  5,389
  6,435
  7,604
  8,896
  10,310
  11,844
  13,495
  15,261
  17,138
  18,730
  20,824
  23,024
  25,328
  27,736
  30,247
  32,864
  35,587
  38,418
  41,362
  44,420
  47,599
  50,902
  54,336
  57,907
  61,621
  65,486
  69,511
  73,703
  78,072
Operating income, $m
  500
  704
  934
  1,192
  1,476
  1,788
  2,125
  2,489
  2,878
  3,292
  4,125
  4,587
  5,071
  5,579
  6,109
  6,662
  7,239
  7,838
  8,462
  9,110
  9,784
  10,484
  11,212
  11,968
  12,755
  13,573
  14,424
  15,311
  16,234
  17,196
EBITDA, $m
  1,337
  1,640
  1,984
  2,368
  2,793
  3,257
  3,761
  4,304
  4,884
  5,501
  6,154
  6,842
  7,565
  8,322
  9,113
  9,938
  10,798
  11,692
  12,623
  13,590
  14,595
  15,639
  16,724
  17,853
  19,026
  20,246
  21,516
  22,838
  24,216
  25,651
Interest expense (income), $m
  83
  203
  262
  331
  409
  496
  591
  696
  810
  933
  1,064
  1,203
  1,351
  1,506
  1,670
  1,841
  2,019
  2,206
  2,400
  2,602
  2,813
  3,031
  3,258
  3,494
  3,739
  3,994
  4,259
  4,535
  4,822
  5,121
  5,432
Earnings before tax, $m
  297
  441
  603
  783
  981
  1,196
  1,429
  1,679
  1,945
  2,228
  2,922
  3,236
  3,565
  3,909
  4,268
  4,643
  5,033
  5,438
  5,860
  6,298
  6,753
  7,226
  7,718
  8,229
  8,760
  9,313
  9,889
  10,489
  11,113
  11,764
Tax expense, $m
  80
  119
  163
  211
  265
  323
  386
  453
  525
  601
  789
  874
  963
  1,055
  1,152
  1,254
  1,359
  1,468
  1,582
  1,700
  1,823
  1,951
  2,084
  2,222
  2,365
  2,515
  2,670
  2,832
  3,001
  3,176
Net income, $m
  217
  322
  440
  571
  716
  873
  1,043
  1,225
  1,420
  1,626
  2,133
  2,362
  2,602
  2,854
  3,116
  3,389
  3,674
  3,970
  4,278
  4,597
  4,930
  5,275
  5,634
  6,007
  6,395
  6,799
  7,219
  7,657
  8,113
  8,588

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  8,442
  10,361
  12,533
  14,959
  17,641
  20,575
  23,757
  27,184
  30,848
  34,745
  38,869
  43,215
  47,780
  52,562
  57,559
  62,771
  68,202
  73,852
  79,729
  85,837
  92,184
  98,781
  105,636
  112,762
  120,172
  127,881
  135,902
  144,254
  152,954
  162,021
Adjusted assets (=assets-cash), $m
  8,442
  10,361
  12,533
  14,959
  17,641
  20,575
  23,757
  27,184
  30,848
  34,745
  38,869
  43,215
  47,780
  52,562
  57,559
  62,771
  68,202
  73,852
  79,729
  85,837
  92,184
  98,781
  105,636
  112,762
  120,172
  127,881
  135,902
  144,254
  152,954
  162,021
Revenue / Adjusted assets
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
  0.588
Average production assets, $m
  3,524
  4,326
  5,232
  6,245
  7,365
  8,589
  9,918
  11,349
  12,879
  14,505
  16,227
  18,041
  19,947
  21,944
  24,030
  26,206
  28,473
  30,832
  33,285
  35,835
  38,485
  41,239
  44,101
  47,076
  50,170
  53,388
  56,737
  60,223
  63,855
  67,641
Working capital, $m
  566
  695
  840
  1,003
  1,182
  1,379
  1,593
  1,822
  2,068
  2,329
  2,605
  2,897
  3,203
  3,523
  3,858
  4,208
  4,572
  4,950
  5,344
  5,754
  6,179
  6,621
  7,081
  7,559
  8,055
  8,572
  9,110
  9,670
  10,253
  10,861
Total debt, $m
  3,977
  5,017
  6,193
  7,509
  8,962
  10,552
  12,277
  14,134
  16,121
  18,233
  20,468
  22,823
  25,298
  27,889
  30,598
  33,423
  36,366
  39,429
  42,614
  45,924
  49,365
  52,940
  56,656
  60,518
  64,534
  68,712
  73,060
  77,587
  82,302
  87,216
Total liabilities, $m
  4,576
  5,616
  6,793
  8,108
  9,561
  11,151
  12,876
  14,734
  16,720
  18,832
  21,067
  23,423
  25,897
  28,489
  31,197
  34,022
  36,965
  40,028
  43,213
  46,524
  49,964
  53,539
  57,255
  61,117
  65,133
  69,311
  73,659
  78,186
  82,901
  87,815
Total equity, $m
  3,867
  4,745
  5,740
  6,851
  8,079
  9,423
  10,881
  12,450
  14,128
  15,913
  17,802
  19,793
  21,883
  24,073
  26,362
  28,749
  31,236
  33,824
  36,516
  39,313
  42,220
  45,242
  48,381
  51,645
  55,039
  58,569
  62,243
  66,068
  70,053
  74,206
Total liabilities and equity, $m
  8,443
  10,361
  12,533
  14,959
  17,640
  20,574
  23,757
  27,184
  30,848
  34,745
  38,869
  43,216
  47,780
  52,562
  57,559
  62,771
  68,201
  73,852
  79,729
  85,837
  92,184
  98,781
  105,636
  112,762
  120,172
  127,880
  135,902
  144,254
  152,954
  162,021
Debt-to-equity ratio
  1.030
  1.060
  1.080
  1.100
  1.110
  1.120
  1.130
  1.140
  1.140
  1.150
  1.150
  1.150
  1.160
  1.160
  1.160
  1.160
  1.160
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
  1.180
Adjusted equity ratio
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  217
  322
  440
  571
  716
  873
  1,043
  1,225
  1,420
  1,626
  2,133
  2,362
  2,602
  2,854
  3,116
  3,389
  3,674
  3,970
  4,278
  4,597
  4,930
  5,275
  5,634
  6,007
  6,395
  6,799
  7,219
  7,657
  8,113
  8,588
Depreciation, amort., depletion, $m
  837
  937
  1,050
  1,177
  1,317
  1,470
  1,636
  1,815
  2,006
  2,209
  2,028
  2,255
  2,493
  2,743
  3,004
  3,276
  3,559
  3,854
  4,161
  4,479
  4,811
  5,155
  5,513
  5,885
  6,271
  6,673
  7,092
  7,528
  7,982
  8,455
Funds from operations, $m
  1,054
  1,259
  1,490
  1,748
  2,033
  2,343
  2,679
  3,040
  3,426
  3,835
  4,161
  4,617
  5,096
  5,597
  6,120
  6,665
  7,233
  7,824
  8,438
  9,077
  9,740
  10,430
  11,147
  11,892
  12,666
  13,472
  14,311
  15,185
  16,095
  17,043
Change in working capital, $m
  112
  129
  146
  163
  180
  197
  213
  230
  246
  261
  276
  291
  306
  321
  335
  349
  364
  379
  394
  409
  425
  442
  460
  478
  497
  517
  538
  560
  583
  608
Cash from operations, $m
  942
  1,130
  1,345
  1,586
  1,853
  2,146
  2,466
  2,811
  3,180
  3,574
  3,885
  4,326
  4,790
  5,276
  5,785
  6,316
  6,869
  7,445
  8,044
  8,667
  9,315
  9,988
  10,687
  11,414
  12,170
  12,956
  13,773
  14,625
  15,511
  16,435
Maintenance CAPEX, $m
  -353
  -441
  -541
  -654
  -781
  -921
  -1,074
  -1,240
  -1,419
  -1,610
  -1,813
  -2,028
  -2,255
  -2,493
  -2,743
  -3,004
  -3,276
  -3,559
  -3,854
  -4,161
  -4,479
  -4,811
  -5,155
  -5,513
  -5,885
  -6,271
  -6,673
  -7,092
  -7,528
  -7,982
New CAPEX, $m
  -697
  -801
  -907
  -1,013
  -1,119
  -1,225
  -1,329
  -1,430
  -1,530
  -1,627
  -1,722
  -1,815
  -1,906
  -1,996
  -2,086
  -2,176
  -2,267
  -2,359
  -2,453
  -2,550
  -2,650
  -2,754
  -2,862
  -2,975
  -3,094
  -3,218
  -3,349
  -3,487
  -3,632
  -3,785
Cash from investing activities, $m
  -1,050
  -1,242
  -1,448
  -1,667
  -1,900
  -2,146
  -2,403
  -2,670
  -2,949
  -3,237
  -3,535
  -3,843
  -4,161
  -4,489
  -4,829
  -5,180
  -5,543
  -5,918
  -6,307
  -6,711
  -7,129
  -7,565
  -8,017
  -8,488
  -8,979
  -9,489
  -10,022
  -10,579
  -11,160
  -11,767
Free cash flow, $m
  -109
  -111
  -102
  -81
  -47
  1
  63
  140
  232
  338
  350
  483
  629
  786
  956
  1,136
  1,326
  1,527
  1,737
  1,957
  2,185
  2,423
  2,670
  2,926
  3,192
  3,466
  3,751
  4,046
  4,351
  4,668
Issuance/(repayment) of debt, $m
  908
  1,040
  1,177
  1,315
  1,453
  1,590
  1,725
  1,857
  1,986
  2,112
  2,235
  2,356
  2,474
  2,592
  2,708
  2,825
  2,943
  3,063
  3,185
  3,311
  3,440
  3,575
  3,716
  3,862
  4,016
  4,178
  4,348
  4,527
  4,715
  4,914
Issuance/(repurchase) of shares, $m
  549
  557
  554
  540
  512
  471
  415
  344
  258
  159
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,457
  1,597
  1,731
  1,855
  1,965
  2,061
  2,140
  2,201
  2,244
  2,271
  2,235
  2,356
  2,474
  2,592
  2,708
  2,825
  2,943
  3,063
  3,185
  3,311
  3,440
  3,575
  3,716
  3,862
  4,016
  4,178
  4,348
  4,527
  4,715
  4,914
Total cash flow (excl. dividends), $m
  1,349
  1,485
  1,629
  1,774
  1,918
  2,062
  2,203
  2,341
  2,476
  2,608
  2,585
  2,839
  3,103
  3,378
  3,664
  3,961
  4,269
  4,590
  4,922
  5,267
  5,626
  5,998
  6,386
  6,789
  7,208
  7,644
  8,099
  8,573
  9,067
  9,582
Retained Cash Flow (-), $m
  -766
  -879
  -995
  -1,111
  -1,228
  -1,344
  -1,458
  -1,569
  -1,678
  -1,785
  -1,889
  -1,991
  -2,091
  -2,190
  -2,289
  -2,387
  -2,487
  -2,588
  -2,691
  -2,798
  -2,907
  -3,021
  -3,140
  -3,264
  -3,394
  -3,530
  -3,674
  -3,825
  -3,985
  -4,153
Prev. year cash balance distribution, $m
  179
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  762
  607
  634
  662
  690
  718
  745
  772
  798
  823
  697
  848
  1,012
  1,188
  1,375
  1,574
  1,782
  2,002
  2,231
  2,470
  2,719
  2,977
  3,246
  3,525
  3,814
  4,114
  4,425
  4,747
  5,082
  5,430
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  730
  555
  552
  545
  535
  521
  503
  482
  458
  432
  331
  362
  385
  399
  404
  400
  388
  369
  343
  314
  281
  247
  213
  180
  148
  120
  95
  73
  55
  41
Current shareholders' claim on cash, %
  96.7
  94.0
  91.9
  90.3
  89.0
  88.0
  87.2
  86.7
  86.4
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products. Its functional activities include sales, marketing, manufacturing, information technology, human resources, legal and finance. Its product portfolio comprises general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers, a spectrum of linear, mixed-signal, power management, thermal management, radio frequency (RF), timing, safety, security, wired connectivity and wireless connectivity devices, as well as serial electrically erasable programmable read-only memories (EEPROMs) and serial flash memories.

FINANCIAL RATIOS  of  Microchip Technology (MCHP)

Valuation Ratios
P/E Ratio 99.5
Price to Sales 4.8
Price to Book 5
Price to Tangible Book
Price to Cash Flow 15.5
Price to Free Cash Flow 16.7
Growth Rates
Sales Growth Rate 56.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -23.5%
Cap. Spend. - 3 Yr. Gr. Rate -7.9%
Financial Strength
Quick Ratio 26
Current Ratio 0.1
LT Debt to Equity 88.7%
Total Debt to Equity 90.2%
Interest Coverage 2
Management Effectiveness
Return On Assets 4.9%
Ret/ On Assets - 3 Yr. Avg. 7.2%
Return On Total Capital 3%
Ret/ On T. Cap. - 3 Yr. Avg. 7.1%
Return On Equity 6.1%
Return On Equity - 3 Yr. Avg. 13.1%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 51.6%
Gross Margin - 3 Yr. Avg. 54.8%
EBITDA Margin 18.8%
EBITDA Margin - 3 Yr. Avg. 26.1%
Operating Margin 6.8%
Oper. Margin - 3 Yr. Avg. 13.5%
Pre-Tax Margin 2.6%
Pre-Tax Margin - 3 Yr. Avg. 10.6%
Net Profit Margin 4.8%
Net Profit Margin - 3 Yr. Avg. 12.3%
Effective Tax Rate -90%
Eff/ Tax Rate - 3 Yr. Avg. -36.9%
Payout Ratio 190.9%

MCHP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MCHP stock intrinsic value calculation we used $3980.8 million for the last fiscal year's total revenue generated by Microchip Technology. The default revenue input number comes from 0001 income statement of Microchip Technology. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MCHP stock valuation model: a) initial revenue growth rate of 24.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MCHP is calculated based on our internal credit rating of Microchip Technology, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Microchip Technology.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MCHP stock the variable cost ratio is equal to 91.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MCHP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.6% for Microchip Technology.

Corporate tax rate of 27% is the nominal tax rate for Microchip Technology. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MCHP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MCHP are equal to 71%.

Life of production assets of 8 years is the average useful life of capital assets used in Microchip Technology operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MCHP is equal to 11.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3279.8 million for Microchip Technology - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 235.037 million for Microchip Technology is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Microchip Technology at the current share price and the inputted number of shares is $16.8 billion.

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COMPANY NEWS

▶ Microchip Tech: Fiscal 2Q Earnings Snapshot   [04:42PM  Associated Press]
▶ 10 Oversold Tech Stocks Ready to Rebound   [08:00AM  Investopedia]

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