Microchip Technology (MCHP)

• Market cap: $29.8B
• 1 day: -0.86%
• 5 days: -4.19%
• 1 month: -14.76%
• 3 months: -27.92%
• 6 months: -37.64%
• Year to date: -35.87%
• 1 year: -37.31%
• 5 years: 6.06%
• 10 years: 143.25%
• Sector: Information Technology
• Industry: Semiconductors & Related Devices

About: Microchip Technology became an independent company in 1989 when it was spun off from General Instrument. More than half of revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door openers to power windows in autos. The company's strength lies in lower-end 8-bit MCUs that are suitable for a wider range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and analog chips as well.

Employees: 22,300

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

34% more call options, than puts

Call options by funds: $943M | Put options by funds: $707M

2.24% less ownership

Funds ownership: 94.33% [Q2] → 92.1% (-2.24%) [Q3]

5% less funds holding

Funds holding: 1,226 [Q2] → 1,160 (-66) [Q3]

15% less capital invested

Capital invested by funds: $46.4B [Q2] → $39.5B (-$6.85B) [Q3]

17% less repeat investments, than reductions

Existing positions increased: 412 | Existing positions reduced: 498

43% less first-time investments, than exits

New positions opened: 89 | Existing positions closed: 155

56% less funds holding in top 10

Funds holding in top 10: 16 [Q2] → 7 (-9) [Q3]

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $65 17% upside
• Avg. target: $85 53% upside
• High target: $95 71% upside

13 analyst ratings

• positive: 10 77%
• neutral: 2 15%
• negative: 1 8%

B of A Securities Vivek Arya 55% 1-year accuracy 58 / 106 met price target	17% upside $65	Underperform Downgraded	16 Dec 2024
Stifel Tore Svanberg 64% 1-year accuracy 30 / 47 met price target	57% upside $87	Buy Maintained	3 Dec 2024
Keybanc John Vinh 45% 1-year accuracy 25 / 56 met price target	62% upside $90	Overweight Maintained	3 Dec 2024
Needham Quinn Bolton 50% 1-year accuracy 66 / 131 met price target	53% upside $85	Buy Reiterated	3 Dec 2024
Citigroup Christopher Danely 48% 1-year accuracy 23 / 48 met price target	48% upside $82	Buy Maintained	6 Nov 2024