# Microchip Technology Incorporated (MCHP)

> Source: Nexqual · https://nexqual.com/MCHP · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Microchip Technology Incorporated (MCHP), nexqual.com/MCHP" · informational, not investment advice.

**Price:** USD 74.52 (-3.41% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 77.15 · day 73.61–75.94 · 52w 48.52–105.91 · market cap $40.5B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $5.12B, net income $478M (9.3% margin), free cash flow $1.11B (SEC filings).
- Valuation: P/E 84.6x (avg 89.5x at the last 2 fiscal year-ends), EV/EBITDA 37.9x, net debt $5.09B.
- 3 of 80 tracked superinvestors hold MCHP (13F, Q2 2026): 2 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.15 on a 1–5 scale) (26 analysts), mean target USD 106.52 (range 75–135).
- Total return with dividends: 1Y +17.5% vs S&P 500 +14.9%; 5Y +10.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.94, revenue estimate $1.61B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $6.82B | $8.44B | $7.63B | $4.40B | $4.71B | $5.12B |
| Gross profit | $4.45B | $5.70B | $5.00B | $2.47B | $2.72B | — |
| Operating income | $1.85B | $3.12B | $2.57B | $296M | $490M | $795M |
| Net income | $1.29B | $2.24B | $1.91B | -$500K | $230M | $478M |
| EPS (diluted) | $2.27 | $4.02 | $3.48 | -$0.01 | $0.22 | — |
| Free cash flow | $2.47B | $3.13B | $2.61B | $772M | $871M | $1.11B |
| Gross margin | 65.2% | 67.5% | 65.4% | 56.1% | 57.7% | — |
| Operating margin | 27.1% | 36.9% | 33.7% | 6.7% | 10.4% | 15.5% |
| Net margin | 18.8% | 26.5% | 25.0% | 0.0% | 4.9% | 9.3% |
| Revenue growth | +25.4% | +23.7% | -9.5% | -42.3% | +7.1% | — |
| Cash + short-term investments | $319M | $234M | — | — | $240M | — |
| Total debt | $7.69B | $6.44B | $6.00B | $5.63B | $5.50B | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 84.6x · P/S 7.9x · EV/EBITDA 37.9x · EV/Sales 8.9x · P/FCF 36.4x · P/B 6.3x · FCF yield 2.75% · Earnings yield 1.18% · Dividend yield (paid, TTM) 2.44% · Net debt $5.09B · EV $45.6B
P/E at fiscal year-ends: Mar 2026 153.2x, Mar 2024 25.8x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold MCHP. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Dodge & Cox Funds | Dodge & Cox | 0.26% | $505M | Reduced -9.7% |
| Christopher Bloomstran | Semper Augustus | 0.02% | $221K | New position |
| Lee Ainslie | Maverick Capital | 0.01% | $657K | New position |

## Analysts
Consensus Buy (mean 2.15 on a 1–5 scale), 26 analysts; mean target USD 106.52 (low 75, high 135).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | B. Riley Securities | Target lowered | Buy | $108 → $98 |
| 2026-10-20 | Wells Fargo | Target lowered | Equal-Weight | $88 → $80 |
| 2026-10-19 | TD Cowen | Target lowered | Hold | $90 → $75 |
| 2026-08-21 | BMO Capital | Initiated | Outperform | $95 |
| 2026-08-17 | Cantor Fitzgerald | Reiterated | Overweight | $125 |
| 2026-08-07 | UBS | Target lowered | Buy | $130 → $120 |
| 2026-08-07 | Citigroup | Target lowered | Buy | $113 → $95 |
| 2026-08-07 | Truist Securities | Target lowered | Hold | $105 → $90 |
| 2026-08-07 | Rosenblatt | Maintained | Buy | $120 |
| 2026-08-03 | Cantor Fitzgerald | Reiterated | Overweight | $125 |
| 2026-07-20 | Wells Fargo | Target lowered | Equal-Weight | $95 → $88 |
| 2026-07-13 | TD Cowen | Target lowered | Hold | $105 → $90 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +17.5% | +10.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +17.6% | +2.0% |
| Volatility (annualized) | 49.2% | 43.3% |
| Max drawdown | -31.8% (Jun 2026→Sep 2026) | -62.4% (May 2024→Mar 2025) |

## Peers (Semiconductors)
STM (STMicroelectronics N.V.) USD 44.09 -7.04% · UMC (United Microelectronics Corpora) USD 18.53 -6.51% · ALAB (Astera Labs, Inc.) USD 257.82 -11.11% · CRDO (Credo Technology Group Holding ) USD 162.77 -10.70% · ON (ON Semiconductor Corporation) USD 73.23 -4.82% · NXPI (NXP Semiconductors N.V.) USD 237.79 -1.89%

## More
Full page: https://nexqual.com/MCHP · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name MCHP in their own reports (relationship from MCHP's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| competitor | FREQUENCY ELECTRONICS INC (FEIM) | 10-K 2026-07-17 | "for multiple applications in the EW market, the Company competes with larger domestic companies such as Microchip Technology Incorporated" |
| competitor | QUICKLOGIC Corp (QUIK) | 10-K 2026-03-27 | "In the market for discrete FPGA devices, we compete with suppliers of programmable logic devices including Lattice Semiconductor Corporation, Microchip Technology Inc. (which acquired Microsemi Corpor…" |
| competitor | Astera Labs, Inc. (ALAB) | 10-K 2026-02-20 | "Our principal competitors include Broadcom, Inc., Credo Technology Group Holding Ltd., Marvell Technology, Inc., Microchip Technology Inc., Montage Technology, Parade Technologies, Ltd., and Rambus, I…" |
| competitor | NXP Semiconductors N.V. (NXPI) | 10-K 2026-02-19 | "Our primary key public competitors in alphabetical order include, but are not limited to, Analog Devices Inc., Broadcom Inc., Infineon Technologies AG, Microchip Technology Inc., Qualcomm Inc., Renesa…" |
| competitor | TTM TECHNOLOGIES INC (TTMI) | 10-K 2026-02-17 | "Our principal competitors for our Commercial segment include AT&S (Austria Technologie & Systemtechnik Aktiengesellschaft), Founder Technology Group Co., Ltd., Gold Circuit Electronics Ltd., Isu Petas…" |
| competitor | SITIME Corp (SITM) | 10-K 2026-02-11 | "Companies that we primarily compete with include, but are not limited to, Abracon, LLC, Daishinku Corp., Diodes Incorporated, Kyocera Corporation, Microchip Technology Inc., Murata Manufacturing Co., …" |
| competitor | MAXLINEAR, INC (MXL) | 10-K 2026-01-29 | "Our primary merchant semiconductor competitors include Broadcom, Inc., Qualcomm Incorporated, Realtek Semiconductor Corp., Skyworks Solutions, Inc., Credo Semiconductor Inc., MediaTek, Inc., Marvell T…" |
| competitor | MACOM Technology Solutions Holdings, Inc. (MTSI) | 10-K 2025-11-14 | "We primarily compete with Analog Devices, Inc. ("ADI"), Broadcom Inc. ("Broadcom"), Credo Technology Group Holding Ltd. ("Credo"), Marvell Technology Inc. ("Marvell"), MaxLinear Inc. ("MaxLinear"), Mi…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Semiconductor products | $1.44B | 97.1% | +38.3% |
| Technology Licensing Member | $42.6M | 2.9% | +29.1% |
| Total revenue | $1.48B | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Mixed-signal Microcontrollers | $739.1M | 49.8% | +38.8% |
| Analog | $410.9M | 27.7% | +29.9% |
| Other | $334.7M | 22.5% | +47.6% |
| Total revenue | $1.48B | 100% | — |

## Customer concentration

Period ended 2026-03-31: 12% of revenue from unnamed direct customers (10-K, filed 2026-05-21).

## Company outlook (8-K filed 2026-08-06)

- "(3) The forecast for GAAP tax expense excludes any unexpected tax events that may occur during the quarter, as these amounts cannot be forecasted."
- "(4) Represents the expected cash tax rate for fiscal 2027, excluding any transition tax payments associated with the Tax Cuts and Jobs Act."
- "(5) Our GAAP guidance excludes the impact of any potential gains or charges related to our ongoing evaluation of restructuring activities including the sale of our Fab 2 wafer fabrication facility in Tempe, Arizona."
- "Capital expenditures for the quarter ending September 30, 2026 are expected to be betwe"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.94 | $0.80 | +17.5% | $1.61B | 22 |
| Next quarter (ends 2026-12-31) | $0.94 | $0.81 | +16.1% | $1.63B | 22 |
| Current fiscal year (ends 2027-03-31) | $3.66 | $3.19 | +14.6% | $6.40B | 25 |
| Next fiscal year (ends 2028-03-31) | $4.60 | $4.19 | +9.8% | $7.45B | 25 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-05): ±12.8%; earnings reaction alone ±7.7%; last 8 reports averaged ±7.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 64.3% | ±7.6% |
| 2026-11-06 | 14 | 78.8% | ±12.8% |
| 2026-11-13 | 21 | 69.3% | ±13.6% |
| 2026-11-20 | 28 | 63.4% | ±14.2% |
| 2026-11-27 | 35 | 60.7% | ±15.2% |
| 2026-12-04 | 42 | 58.1% | ±15.9% |
| 2026-12-18 | 56 | 58.2% | ±18.2% |
| 2027-01-15 | 84 | 53.8% | ±20.6% |