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n">(Reuters) - Shares of Microchip Technology Inc (MCHP.O) could be poised to rally, backed by a cheap stock valuation and a healthy dividend, according to an article in Barron's.
The shares have been hurt by a semiconductor industry slowdown, but the company has turned a profit in 83 consecutive quarters, regardless of the state of the economy, the financial weekly said in its October 10 edition.
The article quotes one chief investment officer as saying there is no reason the shares should not be trading at least $40. They closed on Friday at $33.68.
(Reporting by Lewis Krauskopf, editing by Maureen Bavdek)
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