Microchip Stock Is Rising. Why Wall Street Thinks It May Have Hit Bottom.
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Microchip Technology was climbing Friday after the maker of low-end chips and circuits for electronics beat earnings forecasts for its fiscal fourth quarter and raised guidance for the current first quarter. The company reported adjusted earnings of 11 cents a share on revenue of $971 million for the quarter ended March 31, beating Wall Street’s consensus estimates of 10 cents and $963 million, respectively. Microchip shares rose 12% to $55, buoyed by management’s improved forecasts for the fiscal first quarter of 2026.
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