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 reported record net sales of $2.169 billion for the third quarter of fiscal 2023, representing a 23.4% year-over-year increase. GAAP net income reached $580.3 million ($1.04 per diluted share), up from $352.8 million ($0.62) a year ago. Non-GAAP net income also hit records at $863.7 million ($1.56 per diluted share). The company paid down $719.1 million of debt, totaling $6.2 billion over 18 quarters. A quarterly dividend of 35.8 cents per share was declared, marking a 41.5% year-over-year increase. Looking ahead, Microchip expects sequential growth of 1% to 4% in the March quarter.
Microchip Technology has introduced a new hybrid power drive module designed for More Electric Aircraft (MEA). This integrated power solution can be customized with silicon carbide or silicon, providing a compact, lightweight design that simplifies flight control systems. The module features a three-bridge topology, high reliability, and is capable of high-switching frequency power generation, significantly reducing size and weight. It supports voltage customization up to 1700V. Microchip aims to assist customers in creating efficient aviation systems, enhancing product support with detailed specifications and engineering assistance.
Microchip Technology Inc. has launched its first commercial-off-the-shelf (COTS) radiation-tolerant power management device, the MIC69303RT 3A Low-Dropout Voltage Regulator. This device is designed for low-Earth orbit (LEO) and other space applications, ensuring reliable operation under harsh conditions. It operates on a low-voltage supply, offering output voltages as low as 0.5V and dropout voltages of 500 mV. The MIC69303RT is compatible with Microchip’s space-qualified microcontrollers and is built to withstand temperatures from -55°C to +125°C. For evaluation, a plastic MIC69303RT evaluation board is available for performance testing.
Microchip Technology (NASDAQ: MCHP) announced the appointment of Robert Rango to its Board of Directors, effective January 3, 2023. Rango, who has over 40 years of industry experience, previously served as CEO of Enevate Corporation and held significant roles at Broadcom and other semiconductor firms. Microchip's Executive Chair, Steve Sanghi, praised Rango's experience in operations and risk management. Rango expressed enthusiasm for joining the board, citing Microchip's leadership and potential for growth and shareholder value creation.
Microchip Technology announced it will present at the Raymond James Technology Investor Conference on December 6, 2022, at 8:35 a.m. ET. The presentation will feature Senior Vice President and CFO Eric Bjornholt and Head of Investor Relations Sajid Daudi. A live webcast will be accessible on the company website. Microchip is a leader in providing secure embedded control solutions, serving over 125,000 customers across various sectors, including industrial and automotive markets. For more details, visit www.microchip.com.
Microchip Technology will present at the UBS Annual Global TMT Conference on December 5, 2022, at 10:00 a.m. Eastern Time. The presentation will feature Eric Bjornholt, Senior VP and CFO, and Sajid Daudi, Head of Investor Relations. A live webcast will be available on the Microchip website. The company emphasizes its leadership in embedded control solutions, serving over 125,000 customers across various sectors. Forward-looking statements are subject to the risks discussed in SEC filings, accessible via the SEC website.
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.
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