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 will present at the Citi 2022 Global Technology Conference on September 8, 2022, at 2:30 p.m. Eastern Time. The presentation will be led by Ganesh Moorthy, President and CEO, alongside Sajid Daudi, Head of Investor Relations. A live webcast will be accessible through Microchip's website. The company, headquartered in Chandler, Arizona, specializes in smart, connected, and secure embedded control solutions, serving over 125,000 customers across various sectors including industrial and automotive.
Microchip Technology announced the webcast of its Annual Meeting of Shareholders on August 23, 2022, at 9:00 a.m. PT. Attendees can access the meeting online at www.microchip.com, with a replay available for 14 days afterward. The meeting will include official shareholder business and a presentation by CEO Ganesh Moorthy. Attendees are advised to take a COVID test prior to attending in person. Forward-looking statements made during the meeting will be accompanied by risk disclosures found in SEC filings accessible at www.sec.gov.
Microchip Technology, a leader in embedded control solutions, will present at the KeyBanc 23rd Annual Vail Global Tech Leadership Forum on August 9, 2022, at 9:00 a.m. Mountain Time. Presenters include Eric Bjornholt, CFO, and Sajid Daudi, Head of Investor Relations. A live webcast will be available on the Microchip website. The company serves over 125,000 customers across various sectors, including industrial and automotive, providing cutting-edge solutions that enhance design efficiency while minimizing costs.
Microchip Technology Inc. has announced the launch of the SAM9X60D1G-SOM, a new embedded MPU system-on-module (SOM) designed to simplify product development in the growing embedded market. This ARM926EJ-S™-based module runs at speeds up to 600 MHz and features 4 Gb SLC NAND Flash. The compact design incorporates essential components, reducing logistics complexities. It is suitable for various applications, including medical and automotive systems. The SOM is priced at $42.96 in 5,000-unit quantities. Development tools are also available to support customers.
Microchip Technology reported record net sales of $1.964 billion for the June 2022 quarter, up 25.1% year-over-year. GAAP net income was $507.2 million, translating to $0.90 per diluted share. Non-GAAP net income reached $767.2 million, or $1.37 per diluted share. The company declared a quarterly dividend of 30.1 cents, a 9.1% increase sequentially. Microchip also repurchased approximately $195.2 million in stock. Despite macro uncertainties, the company expects net sales to increase 3% to 7% sequentially in the September quarter.
Microchip Technology announced a quarterly cash dividend of 30.1 cents per share, payable on September 2, 2022. This represents a significant 37.8% increase from the previous dividend of 21.85 cents in August 2021, marking 80 consecutive quarters of dividend payments. The company's strong financial performance in the June 2022 quarter supported solid cash generation and debt reduction, reflecting confidence in its ongoing commitment to returning capital to shareholders.
Microchip Technology Inc. (Nasdaq: MCHP) has launched the SMC 2000 series of Smart Memory Controllers, enhancing memory bandwidth and capacity for next-generation CPUs and SoCs. These controllers, compliant with CXL 1.1 and 2.0 standards, allow efficient utilization of DDR4 and DDR5 memory, improving data center cost-effectiveness. The SMC 2000 16x32G model supports high-capacity configurations with significant reductions in CPU pin requirements. Microchip aims to boost performance in high-demand computing environments, optimizing application workloads and ensuring robust enterprise security.
Microchip Technology has introduced the maXTouch Knob on Display (KoD) controller, a cutting-edge automotive-grade touchscreen solution integrating capacitive rotary encoders with multi-touch displays. This innovation allows designers to customize knob shapes and positions without altering touch patterns, enhancing flexibility and reducing costs. The KoD controller supports sealed Human Machine Interface (HMI) modules, improving user safety by allowing adjustments without visual distraction. Available in KD and MK variants, it caters to various design needs while expediting development with robust tools.
Microchip Technology Inc. has launched the AVR-IoT Cellular Mini Development Board, aimed at simplifying the design of IoT devices with secure cellular connections. This board, based on the AVR128DB48 8-bit microcontroller, is suitable for connecting to 5G networks, particularly in remote areas lacking traditional connectivity.
Enhanced with security features from Microchip’s ATECC608 CryptoAuthentication technology, it offers low power consumption and is designed for various industries, including agriculture and industrial applications. Priced at $59.99, it supports Arduino compatibility.
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