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, a leader in embedded control solutions, announced a 2-for-1 stock split effective for stockholders of record after the market closes on October 4, 2021. This split aims to enhance trading liquidity and make shares more appealing to retail investors. Shareholders will receive one additional share for each share held on October 12, 2021. The adjusted shares and per-share price will be reported by Nasdaq on October 13, 2021.
Microchip Technology (NASDAQ: MCHP) announced that it will present at the BMO 2021 Technology Summit on August 25, 2021, at 9:00 a.m. Pacific Time. The presentation will feature Mr. Ganesh Moorthy, President and CEO, along with Mr. Eric Bjornholt, CFO. A live webcast will be available on Microchip's website. The company, known for its smart, connected, and secure embedded control solutions, serves over 120,000 customers across various industries. For more details, visit www.microchip.com.
Microchip Technology announced its presentation at the BMO 2021 Technology Summit on August 25, 2021, at 9:00 a.m. (ET). President and CEO Ganesh Moorthy and CFO Eric Bjornholt will represent the company. A live webcast will be available on the Microchip website. Investors are reminded that forward-looking statements are subject to risks outlined in the company's SEC filings, accessible at the SEC website. Based in Chandler, Arizona, Microchip provides embedded control solutions to over 120,000 customers across various markets.
Microchip Technology will host its Annual Shareholders’ Meeting on August 24, 2021, at 9:00 a.m. PT. The event will be accessible via webcast on their website, www.microchip.com, with a replay available for 14 days. The meeting will focus solely on official business and will not include an investor presentation. Attendees in person must wear masks and follow social distancing guidelines, regardless of vaccination status. Relevant COVID-19 health questions will be required before entry. Forward-looking statements will reference risks disclosed in SEC filings, accessible via the SEC's website.
Microchip Technology announced exchange agreements for its Convertible Senior Subordinated Notes, involving approximately 2.7 million shares of common stock and $266 million in cash. This exchange is for $70.4 million of 2025 Notes, $100.7 million of 2027 Notes, and $92.5 million of 2037 Notes. The actual cash and stock amounts may vary based on stock price fluctuations. The exchanges are set to close around August 17, 2021, and will be funded through borrowings and existing cash. The shares will be issued under the Securities Act exemption.
Microchip Technology introduces new low-density PolarFire FPGAs and SoCs, cutting static power consumption by up to 50%, establishing them as the most power-efficient devices in their class. These innovations eliminate the need for additional thermal management while providing high performance. The new devices are ideal for applications demanding low-power, compact solutions such as automotive, industrial, and IoT systems. Volume shipments are anticipated in the first quarter of 2022, enhancing Microchip's offerings in the embedded control solutions market.
Microchip Technology announced its participation at the J.P. Morgan Auto Conference on August 11, 2021, at 4:50 p.m. Eastern Time. The presentation will be led by President and CEO Ganesh Moorthy and CFO Eric Bjornholt. A live webcast will be available on the Microchip website. The company is known for providing smart, connected, and secure embedded control solutions to over 120,000 customers across various industries, including automotive and aerospace. For more information, visit www.microchip.com.
Microchip Technology, a leader in embedded control solutions, will present at KeyBanc Capital Markets' 22nd Annual Global Tech Leadership Forum on August 10, 2021, at 12:40 p.m. ET. The presentation, led by CFO Eric Bjornholt, will be available via live webcast on the Microchip website. The company emphasizes a commitment to reducing risk and lowering costs for over 120,000 customers across various industries, including automotive and aerospace. For further details, visit www.microchip.com.
Microchip Technology reported record net sales of $1.569 billion, increasing 19.8% year-over-year and 7.0% sequentially. The company achieved a record GAAP gross margin of 64.2% with operating income of $368.8 million, and net income of $252.8 million or $0.89 per diluted share. Non-GAAP earnings were also strong, with a record EPS of $1.98. Debt reduction continued with $388 million paid down this quarter, totaling $3.99 billion over the last 12 quarters. A quarterly dividend of 43.7 cents per share was declared, marking an 18.75% increase year-over-year.
Microchip Technology has declared a quarterly cash dividend of 43.7 cents per share, effective September 3, 2021, for stockholders of record on August 20, 2021. This marks an increase of 5.8% sequentially and 18.75% year-over-year. The announcement reflects Microchip's solid financial performance in the June 2021 quarter, characterized by substantial cash generation and debt reduction. The company has increased its dividend 68 times since initiating payments in 2003, underscoring its ongoing commitment to returning capital to stockholders.
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