10 Best Tech Stocks to Buy Under $100

5. Microchip Technology Incorporated (NASDAQ:MCHP)

Share Price as of July 14: $74.05

Number of Hedge Fund Holders: 56

Microchip Technology Incorporated (NASDAQ:MCHP) is one of the best tech stocks to buy under $100. On July 10, Microchip Technology announced two significant advancements for its Radiation-Tolerant/RT PolarFire technology to support the evolving needs of space system developers.

These milestones include the MIL-STD-883 Class B and QML Class Q qualification of the RT PolarFire RTPF500ZT FPGA, as well as the availability of engineering samples for the RT PolarFire System-on-Chip (SoC) FPGA. The achievements highlight Microchip’s extensive spaceflight heritage that spans over 60 years, and its dedication to providing highly reliable and low-power solutions for demanding space applications.

MIL-STD-883 Class B and Qualified Manufacturers List/QML Class Q are industry standards that define testing and qualification processes for microelectronic components used in high-reliability environments such as space and defense. MIL-STD-883 is developed by the US Department of Defense and outlines methods for environmental, mechanical, and electrical testing.

Microchip Technology Incorporated (NASDAQ:MCHP) develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.