Microchip Technology Inc. - MCHP STOCK NEWS

Microchip Technology, a leading provider of smart, connected, and secure embedded control solutions, will present at the UBS Global Technology and AI Conference on December 3, 2024, at 3:35 p.m. (Mountain Time). The presentation will be delivered by Steve Sanghi, President and CEO. A live webcast will be available on the Microchip website and through UBS.

Microchip Technology (NASDAQ: MCHP) announced that CEO and President Ganesh Moorthy is retiring in connection with his 65th birthday at the end of November. The Board has appointed Steve Sanghi as interim CEO and President, effective immediately, while maintaining his position as Board Chair. Moorthy served the company for 23 years, including the last four years as President and CEO. Sanghi expressed commitment to leading Microchip through the current industry downturn and focusing on returning the company to growth in revenue and profitability.

Microchip Technology (MCHP) has launched its PolarFire FPGA Ethernet Sensor Bridge compatible with NVIDIA Holoscan sensor processing platform. This solution supports MIPI CSI-2-based sensors and MIPI D-PHY physical layer, with future support planned for additional protocols. The platform combines PolarFire FPGA's power-efficient technology with NVIDIA Holoscan's AI capabilities, enabling low-latency communication and multi-protocol sensor support for edge AI applications. The solution features embedded security, SEU immunity, and is designed for medical, industrial, and automotive markets.

Microchip Technology (MCHP) has unveiled its new portfolio of IGBT 7 power devices, designed for sustainability, E-Mobility, and data center applications. The portfolio features multiple topologies, packages, and voltage ranges from 1200V to 1700V with currents from 50A to 900A.

The devices offer improved performance with lower power losses, higher power density, and enhanced system efficiency. Available in D3, D4 62mm, SP6C, SP1F, and SP6LI packages, these components support various configurations including three-level NPC, three-phase bridge, and multiple chopper topologies. The portfolio is specifically optimized for applications in solar inverters, hydrogen ecosystems, commercial vehicles, and More Electric Aircraft (MEA).

Microchip Technology (NASDAQ: MCHP) has announced a 3.6% year-over-year increase in its quarterly cash dividend to 45.5 cents per share, payable on December 6, 2024, to stockholders of record on November 22, 2024. The company has consistently increased its dividend payments since initiating them in fiscal year 2003, marking its 83rd dividend increase. Microchip serves approximately 116,000 customers across industrial, automotive, consumer, aerospace and defense, communications, and computing markets.

Microchip Technology reported Q2 fiscal 2025 results with net sales of $1.164 billion, down 6.2% sequentially and 48.4% year-over-year. GAAP net income was $78.4 million ($0.14 per share), while non-GAAP net income reached $250.2 million ($0.46 per share). The company declared a record quarterly dividend of 45.5 cents per share, up 3.6% year-over-year. A $13.3 million legal settlement positively impacted revenue and profits. The company returned $261 million to stockholders through dividends and share repurchases. For Q3 FY2025, Microchip expects net sales between $1.025-$1.095 billion amid ongoing inventory corrections and macro uncertainties.

Microchip Technology (Nasdaq: MCHP) has announced the PIC64HX family of microprocessors (MPUs) to meet the growing demand for reliable, embedded solutions in mission-critical applications. The PIC64HX is a high-performance, multicore 64-bit RISC-V® MPU designed for intelligent edge applications, featuring:

• Advanced AI/ML processing capabilities
• Integrated Time-Sensitive Networking (TSN) Ethernet connectivity
• Post-quantum-enabled, defense-grade security
• Eight 64-bit RISC-V CPU cores with vector extensions
• Support for SMP, AMP, or dual-core lockstep operations
• WorldGuard hardware architecture for isolation and partitioning

The PIC64HX supports comprehensive fault tolerance, resiliency, scalability, and power efficiency. It is one of the first MPUs to support NIST-standardized post-quantum cryptographic algorithms. Samples will be available to early access partners in 2025.

Microchip Technology's Radiation-Tolerant (RT) RTG4™ Field-Programmable Gate Arrays (FPGAs) with lead-free flip-chip bumps have achieved Qualified Manufacturers List (QML) Class V status, the highest level of qualification for space components. This designation, granted by the Defense Logistics Agency (DLA), recognizes exceptional reliability and longevity for critical space missions.

Key points:

• RTG4 FPGAs are the first RT FPGAs with over 150,000 logic elements to achieve QML Class V qualification
• Lead-free bump material extends product longevity, important for space missions
• RTG4 FPGAs offer high density, performance, and low power consumption
• They provide immunity to configuration upsets, reducing engineering expenses and system costs
• Extensive reliability testing included up to 2,000 thermal cycles from −65°C to 150°C junction temperature

This achievement further solidifies Microchip's position in the space industry, where their solutions have powered missions for over 60 years.

Steve Sanghi, retired CEO and chair of the board of directors of Microchip Technology, has released his third book, 'Ask Steve: Everyday business advice from a successful CEO'. The book is an extension of Sanghi's popular business advice column that ran in the Arizona Republic from 2007 to 2014. It offers practical and real-world business advice based on Sanghi's leadership style and business acumen.

The book covers a wide range of topics including:

• Career development and advancement
• Global trade challenges
• Management issues
• Advice for investors and marketers
• International business complexities

This release follows Sanghi's previous books, 'Driving Excellence' and 'Up and to the Right'. The new book is available for purchase on Amazon and aims to be a comprehensive guide for professionals at all levels, from CEOs to recent graduates.