Shares rose 1.12% to $93.95 on Friday, topping the previous $93.03 peak set on April 30 and marking a third straight daily gain.
The move came in a mixed US market session, with the S&P 500 up 0.29% and the Dow Jones Industrial Average down 0.31%.
Microchip underperformed AMD's 1.71% gain, while Applied Materials and Analog Devices fell; trading volume of 8.0 million was below its 50-day average of 9.0 million.
How might insider selling and overbought technicals signal a potential reversal for Microchip Technology, even as semiconductor momentum accelerates?
Will MCHP's aggressive expansion into AI and recent partnerships be enough to justify its premium valuation amid industry-wide supply chain shifts?