Group 1: Company Overview - Microchip Technology Incorporated (NASDAQ:MCHP) is recognized among the 13 top tech stocks that consistently pay dividends [1] - The company primarily supplies microcontrollers, mixed-signal and analog products, along with Flash-based IP, and is known for its strong technical support in industrial applications [6] Group 2: Analyst Insights - Mizuho analyst Vijay Rakesh raised the price target for Microchip from $75 to $80, maintaining an Outperform rating, as the firm updated its semiconductor outlook heading into 2026 [2] - Mizuho noted pressure in the electric vehicle (EV) market, with U.S. EV sales declining by 20% to 50% month over month in October and November, which could impact the semiconductor sector [3] Group 3: Financial Performance - Microchip has underperformed compared to much of the semiconductor space this year, with its stock down nearly 6% over the past six months [4] - The company updated its fiscal Q3 2026 outlook, expecting revenue and EPS to be at the high end of prior guidance, indicating approximately 1% sequential growth and about 12% growth year-over-year [5] - CEO Steve Sanghi reported strong bookings activity and a better-than-expected backlog, indicating positive performance for the current quarter and into March 2026 [6]