JPMorgan Reaffirms ‘Buy’ Rating on Microchip Technology Incorporated (MCHP) With $92.50 PT

With a strong EPS growth estimate for the next year and significant hedge fund interest, Microchip Technology Incorporated (NASDAQ:MCHP) secures a spot on our list of the 15 Stocks That Will Benefit From AI.

JPMorgan Reaffirms ‘Buy’ Rating on Microchip Technology Incorporated (MCHP) With $92.50 PT

On August 19, 2025, J.P. Morgan restated its Buy rating on Microchip Technology Incorporated (NASDAQ:MCHP) with a $92.50 price target, indicating confidence in the company’s cyclical recovery. This follows the company’s August 12 presentation at the KeyBanc Technology Leadership Forum, during which management noted strong booking momentum—July orders were the greatest in three years—along with 10.8% sequential revenue growth and stronger distributor sell-through.

Meanwhile, on August 8, 2025, Morgan Stanley raised its price target on Microchip Technology Incorporated (NASDAQ:MCHP) to $63, reiterating its Equal Weight rating.

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures embedded control systems, such as microcontrollers, analog devices, memory, and FPGAs, for the automotive, industrial, computing, aerospace, communications, and consumer sectors worldwide. It is on our list of the Best AI Stocks.

While we acknowledge the potential of MCHP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MCHP and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.