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 Goldman Sachs Technology and Internet Conference 2021 on February 10, 2021, at 3:40 p.m. ET. Presenters include Steve Sanghi, CEO, and Eric Bjornholt, CFO. A live webcast will be available on the company’s website.
The company is a prominent provider of smart, connected, and secure embedded control solutions across various markets, including industrial, automotive, and defense. With over 120,000 customers, Microchip emphasizes reducing risks and costs while accelerating time to market.
Microchip Technology Inc. has launched the LAN9360, the first hardware-based audio endpoint solution for AVB. This single-chip Ethernet controller simplifies infotainment system development by eliminating the need for third-party software integration, reducing development time. The LAN9360 connects various infotainment devices using Ethernet AVB and supports audio transmission with industry-standard compliance, enhancing reliability. This product expands Microchip's Ethernet portfolio, catering to automotive developers' unique networking requirements.
Microchip Technology has declared a quarterly cash dividend of 39 cents per share, payable on March 8, 2021, to stockholders of record as of February 22, 2021. This marks a 5.8% increase in the dividend, reflecting the company's strong financial performance in the December 2020 quarter, significant cash generation, and ongoing debt reduction efforts. Since initiating dividend payments in 2003, Microchip has increased its dividend 66 times, demonstrating a commitment to returning value to shareholders.
Microchip Technology reported net sales of $1.35 billion for the December quarter, reflecting a 5.0% year-over-year increase and a 3.3% sequential growth. The company achieved a record GAAP gross margin of 62.6% and a non-GAAP gross margin of 63.0%. However, GAAP net income dropped to $36.2 million or $0.13 per diluted share, significantly impacted by a $142.1 million loss on debt settlement. Non-GAAP net income rose to $444.9 million, or $1.62 per diluted share. A dividend of 39 cents per share was declared, up 5.8%.
Microchip Technology Inc. (Nasdaq: MCHP) launched its SparX-5i family of Ethernet switches, designed to optimize industrial automation networks by easing connectivity and lowering costs. These switches support key Time Sensitive Networking (TSN) IEEE standards, enabling real-time communication with low latency. The family offers up to 200G bandwidth and various interface options from 100M to 25GbE. Additionally, Microchip provides development tools, including the VSC6817SDK for efficient implementation, to support its managed Ethernet switch devices.
Microchip (Nasdaq: MCHP) has launched its Smart Storage platform featuring PCIe Gen 4 x16 CPU interfaces and support for NVMe SSDs and 24G SAS infrastructure. The SmartROC 3200 and SmartIOC 2200 controllers offer 3x higher performance compared to competitors, with support for up to 32 lanes of connectivity and 8 GB of on-board cache. These products ensure security through Trusted Platform support and optimized management tools. Available in volume production, this platform aims to meet the growing demands of modern data centers.
Microchip Technology will present at the Needham & Company 23rd Annual Growth Conference on January 12, 2021, at 11:30 a.m. Eastern Time. The presentation will feature Ganesh Moorthy, President and COO, and Eric Bjornholt, Senior VP and CFO. A live webcast will be accessible via the Microchip website.
Please note that any forward-looking statements during the event are subject to risks as detailed in the Company's SEC filings, available on the SEC website.
Microchip Technology, a leader in smart embedded control solutions, will present at the J.P. Morgan 19th Annual Tech/Auto Forum on January 12, 2021, at 7:10 a.m. PT. CEO Steve Sanghi will lead the presentation, which will be accessible via a live webcast on the company’s website. Microchip supports over 120,000 customers in various sectors including industrial, automotive, and defense, providing tools that streamline design processes and reduce costs. For more details, visit www.microchip.com.
Microchip Technology Inc. has introduced a new AC-DC controller, the MCP1012, alongside Inde-Flux™ transformer technology, licensed to Würth Elektronik eiSos. This innovation significantly simplifies offline power solutions for smart home devices, eliminating the need for a separate bias power supply. The MCP1012 allows better control over power management, enabling savings of up to 60% in bias supply area and reducing material costs by over $3. The 15W MCP1012 reference design is now available for $225, enhancing efficiency and reducing system complexity.
Microchip Technology (Nasdaq: MCHP) has announced a new radiation-tolerant 64 Megabit SuperFlash memory device, the SST38LF6401RT, designed for space applications. This device offers high reliability with Total Ionizing Dose (TID) tolerance up to 50 kilorad, making it suitable for critical software storage in space systems. It complements Microchip’s microcontrollers and FPGAs, enabling easier transitions between Commercial-Off-The-Shelf (COTS) devices and their radiation-hardened equivalents.
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