Microchip Technology Incorporated (NASDAQ:MCHP) is one of the AI Stocks Making Waves on Wall Street. On January 15, Piper Sandler analyst Harsh Kumar raised the price target on the stock to $85.00 (from $80.00) while maintaining an Overweight rating. The analyst sees upside for Microchip, driven by multiple growth levers, and identifies it as its "top mid-cap pick." Kumar believes calendar 2026 is shaping up to be very positive for MHCP, particularly with the company witnessing strengthening order momentu ...

Chandler, Arizona-based Microchip Technology Incorporated (MCHP) develops, manufactures, and sells smart, connected, and secure embedded control solutions. With a market cap of $33.8 billion, the company's operations span various countries in the Americas, Europe, and Asia. The semiconductor developer has significantly underperformed the broader market over the past year. MCHP stock prices have gained 8.2% in 2025 and plunged 17.9% over the past 52 weeks, lagging behind the S&P 500 Index’s ($SPX) 16% gain ...