Let $\boldsymbol{Z}$ be a derived global complete intersection over $\mathbb{C}$. We compute the periodic cyclic homology of the category of ind-coherent sheaves with prescribed singular support on $\boldsymbol{Z}$ in terms of the microlocal homology, a family of chain theories living between cohomology and Borel-Moore homology. Our result is a microlocal generalization of both the Feigin-Tsygan theorem identifying $\mathrm{HP}_{\bullet}^{\mathbb{C}}(\mathsf{QCoh}(\boldsymbol{Z}))$ with the $2$-periodized cohomology of $\boldsymbol{Z}$ and A. Preygel's theorem identifying $\mathrm{HP}_{\bullet}^{\mathbb{C}}(\mathsf{IndCoh}(\boldsymbol{Z}))$ with the $2$-periodized Borel-Moore homology of $\boldsymbol{Z}$. Our proof strategy makes extensive use of categories of matrix factorizations, which we treat using Preygel's formalism. This paper contains generalizations of several known results in the subject which we prove in this formalism, and which may be of independent interest to the reader.