Microchip Gains U.S. Export License for FPGA Tech, Analyst Sees $7.25B by 2028
MCHP•Microchip Technology’s Armenian office secured a U.S. export license for controlled FPGA technology (ECCN 3E001, 3A001.a.7.b), enabling advanced R&D across four local sites after a 43% workforce expansion. An analyst rated Microchip a Strong Buy, forecasts five growth drivers to drive $7.25 billion revenue and $4.32 EPS by 2028.
1. U.S. Export License Approval
Microchip Technology’s Armenian office obtained approval from the U.S. Department of Commerce’s BIS for an export license under ECCN 3E001 for controlled FPGA technology and ECCN 3A001.a.7.b for high-performance hardware. This authorization mandates clear end-use definitions, controlled technology access and robust internal compliance safeguards to support secure R&D.
2. Armenian Engineering Expansion
Since acquiring Instigate Semiconductor in 2023, Microchip has increased its Armenia workforce by 43% and now operates in Yerevan, Gyumri, Vanadzor and Ijevan. These sites focus on FPGA hardware and software development, application engineering and customer support within the global semiconductor supply chain.
3. Analyst Strong Buy Rating
An analyst assigned a Strong Buy rating based on five growth drivers: AI and data-center infrastructure, MCU and analog margin recovery, industrial Ethernet and automotive networking, memory and FPGA strength, and overall utilization recovery. The analyst projects 2028 revenue of $7.25 billion and EPS of $4.32.
