The Latest Breaking News from MCHP

The Fed’s monetary policy tightening and deepening supply chain disruptions weighed heavily on the market sentiment and caused a massive sell-off in the tech industry over the past few weeks. Although many big tech stocks plummeted, high-quality tech stocks Microchip Technology (MCHP), NXP Semiconductors (NXPI), International Business Machines (IBM), Broadcom…

Microchip Technology (NASDAQ:MCHP) has outperformed the market over the past 10 years by 2.35% on an annualized basis producing an average annual return of 14.21%. Currently, Microchip Technology has a market capitalization of $37.12 billion.

Microchip Technology (NASDAQ:MCHP) has outperformed the market over the past 10 years by 1.55% on an annualized basis producing an average annual return of 13.86%. Currently, Microchip Technology has a market capitalization of $37.03 billion.

If history is any guide, there may be trouble ahead for shares of Microchip Technology (NASDAQ:MCHP). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.

UBS analyst Pradeep Ramani upgraded Microchip Technology Inc (NASDAQ:MCHP) to Buy from Neutral with a price target of $92, up from $82, suggesting an upside of 21.5%. The analyst states that the Analog cycle is transitioning to the inventory build phase. However, it still "has legs" at least through 2022 and likely into the first…

Over the past 3 months, 7 analysts have published their opinion on Microchip Technology (NASDAQ:MCHP) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.