MCHP - 1 Super Semiconductor Stock Bucking the Downturn and Boosting Its Cash Returns to Shareholders
2023-03-27 07:45:00 ET
There's a present downturn in the semiconductor industry. Sales of PCs and smartphones tanked in the second half of 2022, and are expected to bottom sometime in the coming months before returning to growth in the second half of 2023.
This pain has spilled over into parts of the data center and cloud computing market as well, as businesses tighten their belts for what is expected to be a bumpy-at-best 2023. Other growing industrial markets -- including automotive -- have slowed down as well.
Through it all, though, Microchip Technology (NASDAQ: MCHP) has continued its fast-and-steady expansion. Microchip has also laid out plans for boosting its dividend and share repurchases in the coming years as a result. Did someone forget to tell Microchip about the chip downturn, or is there something special about this stock that should have investors' attention right now?
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1 Super Semiconductor Stock Bucking the Downturn and Boosting Its Cash Returns to Shareholders