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Barchart
Barchart
Kritika Sarmah

Are Wall Street Analysts Bullish on Microchip Technology Stock?

Microchip Technology MCHP

Headquartered in Chandler, Arizona, Microchip Technology Incorporated (MCHP) specializes in designing, manufacturing, and selling smart, connected, and secure embedded control solutions. With a market cap of $40 billion, the company operates across the Americas, Europe, and Asia.

The semiconductor giant has significantly underperformed the broader market over the past year. Over the past 52 weeks, MCHP stock has plunged 1.8% compared to the S&P 500 Index’s ($SPX) 32.7% returns. In 2024 alone, MCHP stock dipped 16.7%, while SPX returned 21.2% on a YTD basis.

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