Welcome to our dedicated page for Microchip Technology news (Ticker: MCHP), a resource for investors and traders seeking the latest updates and insights on Microchip Technology stock.
Microchip Technology Inc. (NASDAQ: MCHP) is a renowned provider of microcontroller, mixed-signal, analog, and Flash-IP solutions. Founded in 1989 and headquartered in Chandler, Arizona, Microchip offers innovative products that facilitate low-risk product development, minimize total system costs, and accelerate time-to-market for a wide range of applications. The company serves over 70,000 customers across industries such as consumer electronics, automotive, office automation, communications, and industrial control in more than 65 countries.
Microchip’s extensive product portfolio includes microcontrollers (MCUs) which account for a significant portion of its revenue. These MCUs are integral to a variety of devices ranging from remote controls and garage door openers to automotive power windows. While the company has a strong foothold in lower-end 8-bit MCUs, it has also expanded into high-end MCUs and analog chip markets.
In recent developments, Microchip introduced the ATMXT2952TD 2.0 family of touch controllers. These are designed to offer cryptographic authentication and data encryption to enhance the security of touch-enabled human-machine interface (HMI) and radio frequency identification (RFID) systems. These controllers are particularly beneficial for outdoor payment terminals like EV chargers and parking meters, providing secure and resilient solutions resistant to harsh weather conditions and vandalism.
Another noteworthy innovation is the PolarFire SoC FPGAs, which cater to the aerospace and defense sectors. These FPGAs combine the flexibility of real-time operating systems with the robustness required for space applications, ensuring reliable performance in harsh radiation environments.
Financially, Microchip reported net sales of $1.326 billion for Q4 of fiscal 2024, reflecting a 40.6% decrease from the previous year. Despite challenges, the company maintained a non-GAAP operating margin of 43.9% and returned $1.89 billion to shareholders through dividends and buybacks. Microchip anticipates a demand stabilization and a return to sequential revenue growth in the second half of 2024, driven by ongoing innovation and strategic initiatives.
Microchip continues to host its renowned MASTERs Conference, an annual event that offers advanced technical training for engineers. This year’s conference featured sessions on embedded control, development tools, and security solutions, highlighting Microchip’s commitment to technological advancement and community engagement.
For more information, visit Microchip Technology Inc.
Microchip Technology (NASDAQ: MCHP) reiterated its guidance for Q2 2022, expecting consolidated net sales between $2.135 billion and $2.177 billion. This forecast indicates a sequential growth of 3.0% to 5.0% and a year-over-year growth of 22.7% at the midpoint. The company anticipates achieving its 9th consecutive quarter of record revenue and reaffirms sequential revenue growth expectations for Q3 2023. CEO Ganesh Moorthy highlighted a strong backlog and resilient end markets despite ongoing supply chain challenges.
Microchip Technology has announced its participation in the Credit Suisse 26th Annual Technology Conference on September 14, 2022, at 9:15 a.m. Pacific Time. The Executive Chair, Ganesh Moorthy, will represent the company during the event. A live webcast will be available on Microchip's website, allowing stakeholders to access the presentation. The company, renowned for its embedded control solutions, serves over 125,000 customers across various sectors including industrial and automotive. Forward-looking statements in the presentation will be accompanied by risk discussions as mandated by SEC regulations.
Microchip Technology Inc. (MCHP) has launched the LAN8840 and LAN8841 Gigabit Ethernet transceivers designed for industrial automation, supporting IEEE 1588v2 standards for precision time stamping. These devices offer flexible Ethernet speeds and robust performance in harsh environments, operating from -40°C to +105°C. They also feature energy-saving mechanisms like Wake-on-LAN and Energy-Efficient Ethernet. The LAN8840 starts at $2.78 in bulk orders and aims to meet the synchronization needs in sectors like gas processing and electrical distribution.
Microchip Technology reported record net sales of $2.073 billion for the quarter ended September 30, 2022, a 25.7% increase year-over-year. Key financial highlights include a GAAP net income of $546.2 million and an EPS of $0.98. Non-GAAP results showed a record net income of $814.4 million and an EPS of $1.46. The company paid down $264.9 million in debt and declared a dividend of 32.8 cents per share, reflecting a 41.4% year-over-year increase. Future sales are expected to rise by 3% to 5% sequentially in the December quarter.
Microchip Technology (NASDAQ: MCHP) has declared a quarterly cash dividend of 32.8 cents per share, an increase of 41.4% from last year's dividend of 23.2 cents. This dividend will be payable on December 6, 2022, to stockholders of record on November 22, 2022. The company has consistently paid dividends for 81 consecutive quarters, reflecting its strong cash generation capabilities and commitment to returning capital to shareholders. The positive financial performance in the September 2022 quarter supports this increase, highlighting ongoing debt reduction.
Microchip Technology has announced the launch of its PIC32CXMT family of 32-bit microprocessors, featuring the new MPL460 Power Line Communication (PLC) modem. This platform is designed for smart metering and industrial IoT applications, offering enhanced performance with operations up to 200 MHz and scalability with up to 560 KB of memory. Available in single-core, dual-core, and system-on-chip variants, it provides options for various transceiver solutions and compliance with ANSI and IEC standards. The devices are currently in limited sampling.
Microchip Technology has launched its first Arm Cortex-M4F-based PIC32CX-BZ2 MCU family, featuring integrated Bluetooth Low Energy functionality. This family addresses design complexities in wireless applications by simplifying connectivity integration. It includes System-on-Chip (SoC) devices and RF-ready modules alongside various features like a 12-bit ADC and OTA updates. Supported by the MPLAB Harmony software framework, it targets developers requiring efficient wireless solutions. The family is available now, shipping in compact QFN packages, with an emphasis on reliable, cost-effective design support.
Microchip Technology introduces the META-DX2+ Ethernet PHY family, enhancing network infrastructure with 112G PAM4 connectivity. With a capacity of 1.6T and integrated encryption, these solutions optimize bandwidth for routers and switches. The devices promise over 50% annual growth in port bandwidth due to increased demand from hybrid work and AI/ML applications. The META-DX2+ family supports a range of features, including Class C/D precision timing and offers significant board savings compared to competitors. Availability for sampling is expected in Q4 2022.
Microchip Technology has announced the launch of the PIC32CM JH microcontroller, a cost-effective solution featuring 512KB Flash, 5V, and Dual CAN FD capabilities. This device meets ISO 26262 functional safety and ISO/SAE 21434 cybersecurity standards, crucial for automakers transitioning to automated systems. The MCU is equipped with AUTOSAR support, secure boot, and advanced safety mechanisms, facilitating compliance with industry requirements. Priced at $2.61 in 10,000-unit quantities, the PIC32CM JH is designed to offer OEMs an entry-level option with premium features previously limited to high-end devices.
Microchip Technology (NASDAQ:MCHP) will present at the Goldman Sachs 2022 Communacopia + Technology Conference on September 14 at 9:15 a.m. PT. The presentation will feature Steve Sanghi, Executive Chair, and Eric Bjornholt, Senior VP and CFO. A live webcast is accessible via the Microchip website. The company specializes in smart, connected, and secure embedded control solutions, catering to over 125,000 customers across various sectors, including automotive and aerospace. Their comprehensive product offerings aim to reduce risks and lower system costs.
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