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Barchart
Dipanjan Banchur

Microchip Technology Stock: Is Wall Street Bullish or Bearish?

MCHP STREET

Microchip Technology Incorporated (MCHP), headquartered in Chandler, Arizona, develops and manufactures microcontrollers, memory, and analog and interface products for embedded control systems. Valued at $50.98 billion by market cap, the company’s solutions service approximately 125,000 customers across industrial, automotive, consumer, aerospace and defense, communications, and computing markets. 

Shares of this analog chipmaker have underperformed the broader market over the past year. MCHP has gained 23.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 26.6%. In 2024, MCHP stock is up 7%, compared to the SPX’s 11.3% rise on a YTD basis.

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