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 has declared a quarterly cash dividend of 41.3 cents per share, an increase of 5.9% from the previous dividend. This dividend is payable on June 4, 2021, to shareholders on record by May 21, 2021. The company has a strong cash generation and debt reduction strategy, reflecting its confidence in business operations, which includes over 67 dividend increases since its inception.
Microchip Technology reported record net sales of $1.467 billion for Q4 FY21, a 10.6% increase year-over-year.
Net income was $116 million or $0.41 per diluted share, up from $99.9 million in the year-ago period. However, guidance projected GAAP EPS lower than previous expectations, affected by an $85.6 million debt settlement loss.
Non-GAAP net income reached $521.4 million, or $1.85 per diluted share, showing resilience amid supply chain constraints.
Quarterly dividend increased to 41.3 cents, with a significant $369.2 million debt reduction reported.
Microchip Technology has announced the qualification of its SAMRH71 Arm-based microprocessor and SAMRH707 microcontroller, both utilizing Arm Cortex-M7 technology for radiation-hardened space applications. Developed in collaboration with ESA and CNES, these components aim to enhance integration and performance while reducing costs for spacecraft systems. The SAMRH71 operates above 200 Dhrystone MIPS and features multiple high-bandwidth communication interfaces, while the SAMRH707 includes analog functions and achieves over 100 DMIPS. Both devices are critical for advancing space system design.
Microchip Technology has launched the maXTouch MXT2912TD-UW touchscreen controller, the first single-chip solution for automotive displays up to 45 inches. This controller simplifies integration for ultrawide screens in electric vehicles and advanced driver-assistance systems. It features high report rates and works with thick overlays, even in moisture. Driven by functional safety standards, it incorporates safety tests and is designed for automotive applications. The controller is in volume production, supported by Microchip’s development tools and technical assistance.
Microchip Technology Inc. has launched the Power Delivery Software Framework (PSF), becoming the first to offer an all-encompassing programming environment for USB Type-C with Power Delivery. This innovative solution allows designers to customize their USB-C PD systems by merging proprietary code with Microchip's PD stack, enhancing flexibility and reducing time to market. The PSF is supported by Microchip's MPLAB X IDE and is available for free download. The UPD301C standalone PD controller is priced at $1.50 for 10,000 units.
Microchip Technology has launched the TimeProvider 4100 Release 2.2 grandmaster, the first industry device to offer software-based redundancy for precise timing solutions. This innovation is crucial for infrastructure providers, including 5G networks and data centers, ensuring reliable, resilient, and secure timing. The device features a multiband Global Navigation Satellite System (GNSS) receiver, enhancing accuracy and reliability. Enhanced security measures have also been added, including anti-jamming capabilities. The TimeProvider 4100 is available now for new and existing systems.
Microchip Technology announced the appointment of Karlton Johnson to its Board of Directors, effective April 1, 2021. Johnson, with extensive experience in defense, cybersecurity, and international business, is expected to contribute significantly to Microchip’s strategic direction. He expressed enthusiasm about joining a company with a strong record of growth. Additionally, L.B. Day will retire from the board at the August 2021 annual meeting, marking the end of his long tenure since 1994.
Forward-looking statements regarding Microchip's future success include potential risks stemming from economic conditions, competitive pressures, and impacts from COVID-19.
Microchip Technology has launched a new PoE to USB-C adapter that delivers up to 60W of power over Ethernet, enabling extended reach for USB-C devices. This device can convert input power of 90W, solving the range limitation of traditional USB-C installations. By leveraging Power over Ethernet (PoE) technology, it simplifies installation and offers functionalities like remote power management. The adapter supports various PoE standards, making it compatible with existing infrastructure. Priced at $100, it represents an advanced solution for powering devices such as cameras and laptops.
Microchip Technology (NASDAQ:MCHP) announced its participation in the Morgan Stanley Technology, Media and Telecom Conference on March 3, 2021, at 11:00 a.m. Eastern Time. The presentation will be conducted by Steve Sanghi, Executive Chair, and Eric Bjornholt, CFO. A live webcast will be available on the company's website. Microchip, based in Chandler, Arizona, is a leading provider of embedded control solutions and supports over 120,000 customers across various markets.
Microchip Technology (NASDAQ:MCHP) will present at the Raymond James 42nd Annual Institutional Investors Conference on March 2, 2021, at 10:50 a.m. (ET). The presentation will feature Mr. Ganesh Moorthy, President and CEO, and Mr. Eric Bjornholt, Senior VP and CFO. A live webcast can be accessed via the Microchip website. The company is a leader in embedded control solutions, serving over 120,000 customers in various markets including industrial and automotive.
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