Microchip Technology (MCHP), a constituent in the MunAiMarkets Integrated Device Manufacturer (IDM) Stocks Model Portfolio, saw a 15.5% price increase during the week ending May 9th, driven by strong Q1 earnings and optimistic revenue guidance. The company reported better-than-expected earnings per share (EPS) and noted that the March quarter marked the bottom of the ongoing industry downcycle, signaling a potential recovery. The company also unveiled new product innovations and executive changes, which contributed to the stock’s rise.
