Needham raises Microchip Technology stock price target to $84 on improving demand

NodeGuardian · 2026-02-06T14:03:08+00:00

Needham raised its price target for Microchip Technology to $84.00, maintaining a Buy rating as demand improves. The fiscal Q3 revenue met expectations, with Q4 guidance exceeding forecasts, bolstered by strong bookings and design awards, including a $100 million contract.

NodeGuardian

2026-02-06 14:03:08

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Needham has increased its price target for Microchip Technology (NASDAQ: MCHP) to $84.00 from $77.00, reiterating a Buy rating due to an improving demand environment. The company’s recent fiscal third-quarter 2026 revenue met expectations, and its fiscal fourth-quarter guidance surpassed market forecasts, supported by strong bookings and a book-to-bill ratio above 1.0. Microchip also secured significant design awards for its PCIe Gen 6 switches, including a $100 million-plus award.

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