** Microchip Technology's MCHP.O shares advancing 3.6% on Thurs ahead of qtrly results after the bell, as investors focus on automotive market challenges and inventory levels
** Analysts expect qtrly rev down 27% to $962.8 mln, with adjusted EPS seen at $0.11 vs $0.57 yr-ago, per LSEG, highlighting continued weakness in automotive demand
** MCHP stock recently traded at 35 times expected earnings, suggesting it might be overvalued compared to its avg forward PE of 19 over past five years, per LSEG data
** The co's stock has dipped about 14% YTD, compared to a 7% fall in Nasdaq .IXIC
** Stock is about 51% below its 52-week intraday high of $100.57 reached on May 24, 2024
** In past 30 days, one out of 25 analysts raised EPS estimates for qtr, while none revised downwards
(Reporting by Noel Randewich)
((noel.randewich@thomsonreuters.com))
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