Microchip Technology Inc. - MCHP STOCK NEWS

Microchip Technology (Nasdaq: MCHP) has introduced the Flashtec NVMe 5016 SSD controller, a 16-channel PCIe Gen 5 NVMe controller designed to meet growing data center demands. Key features include:

- High performance: Over 14 GB/s sequential read and 3.5M IOs/s random read
- Power efficiency: 2.5 GB of data per watt
- Advanced security: Secure Boot, dual signature authentication, and FIPS 140-3 Level 2 compliance
- Flexibility: Support for QLC, TLC, and MLC NAND technologies
- Enhanced reliability: Advanced error correction and RAID techniques

The controller is optimized for AI, cloud computing, and enterprise applications, offering increased bandwidth, security, and flexibility for data centers.

Microchip Technology (NASDAQ:MCHP), a leader in embedded control solutions, has announced its participation in the KeyBanc Capital Markets Technology Leadership Forum. The presentation is scheduled for Monday, August 5, 2024, at 10:00 a.m. Mountain Time.

Eric Bjornholt, Senior Vice President and Chief Financial Officer, will be representing the company. Interested parties can access a live webcast of the presentation through KeyBanc's platform, which will also be available on Microchip's official website at www.microchip.com.

This event provides an opportunity for investors and analysts to gain insights into Microchip's strategies, market position, and financial outlook directly from a top executive.

Microchip Technology (NASDAQ: MCHP) has increased its quarterly cash dividend by 10.7% year-over-year to 45.4 cents per share, payable on September 5, 2024, to stockholders of record on August 22, 2024. This marks the 82nd dividend increase since its inception and the 88th consecutive quarter of dividend payments. Despite challenging market dynamics, the company's financial performance in June 2024 met expectations. Microchip remains committed to returning 100% of its adjusted free cash flow to shareholders by the March 2025 quarter through dividends and share repurchases, demonstrating confidence in its cash-generating capabilities.

Microchip Technology (NASDAQ: MCHP) announced its financial results for the first quarter of Fiscal Year 2025, showing net sales of $1.241 billion, a 6.4% sequential decline and 45.8% drop from the previous year.

On a GAAP basis, the company reported a gross profit margin of 59.4%, operating income of $219.1 million, net income of $129.3 million, and EPS of $0.24. Non-GAAP figures included a gross profit margin of 59.9%, operating income of $390.5 million, net income of $289.9 million, and EPS of $0.53.

Microchip returned $315.3 million to shareholders through dividends and stock repurchases and declared a record quarterly dividend of 45.4 cents per share, a 10.7% increase year-over-year. Despite macroeconomic challenges and inventory corrections, the company remains optimistic about long-term growth driven by its diverse portfolio and strategic cost management.

Microchip Technology (Nasdaq: MCHP) has launched its dsPIC33A Core family of Digital Signal Controllers (DSCs). These DSCs feature a 32-bit CPU architecture with a 200 MHz operating speed, a Double-Precision Floating-Point Unit (DP FPU), and DSP instructions for complex control algorithms. Key features include:

- Improved math and data processing
- Higher code efficiency
- Faster context switching and reduced latency
- Enhanced peripherals for motor control and digital power conversion
- Integrated analog peripherals and Core Independent Peripherals (CIPs)
- Flash security capabilities

The first family, dsPIC33AK128MC1xx, includes 128 KB Flash and various package options. Pricing starts at less than $1 USD in high volumes.

Microchip Technology has launched the PIC64 High-Performance Spaceflight Computing (PIC64-HPSC) microprocessors, targeting NASA and the defense and commercial aerospace sectors. The new MPUs, featuring RISC-V CPUs with vector-processing extensions, cater to AI/ML applications and boast a range of unprecedented capabilities for space applications, including 64-bit architecture, high-speed network connectivity, low-latency data transfers, and platform-level security.

Microchip is also building a partner ecosystem to speed up system development, including Single-Board Computers and software partnerships. The PIC64-HPSC family supports various autonomous space missions, addressing the unique needs of both deep-space and Low Earth Orbit (LEO) operations with radiation and fault tolerance capabilities.

The space hardware and services market, estimated by the World Economic Forum to grow at a 7% CAGR, is forecast to reach $755 billion by 2035, underlining the significance of Microchip's new offerings in this expanding sector.

Microchip Technology (Nasdaq: MCHP) has launched its new PIC64 portfolio, starting with the PIC64GX MPU, a 64-bit RISC-V quad-core processor. This processor is designed for real-time, compute-intensive applications such as smart embedded vision and Machine Learning (ML).

The PIC64GX targets a wide range of markets including industrial, automotive, communications, IoT, aerospace, and defense. It features Asymmetric Multiprocessing (AMP) and deterministic latencies, aimed at enhancing intelligent edge designs. Additionally, the portfolio includes the PIC64 High-Performance Spaceflight Computing (HPSC) family, which promises over 100 times the compute performance for aerospace and defense applications.

Microchip's comprehensive ecosystem of tools and software supports these new products, facilitating quicker design, development, and validation processes. The PIC64GX Curiosity Evaluation Kit is now available for designers to start evaluations.

Microchip Technology (Nasdaq: MCHP) has published its 2023 Sustainability Report, highlighting its commitment to environmental stewardship and social responsibility. The report outlines Microchip's efforts in five key areas: Our Company, Our Planet, Our Supply Chain, Our Products, and Our People.

Key achievements include a pledge to reduce Scope 1 and 2 GHG emissions by 50% by 2030 and achieve Net Zero by 2040, the completion of a 3.8 MW floating solar farm in Thailand, and initiatives to foster a diverse and inclusive workplace. Additionally, the company has been recognized by Newsweek and Forbes/Statista for its responsible and female-friendly practices.

Microchip's sustainability efforts are driven by its Sustainability Megatrend team, which focuses on innovative solutions to reduce power consumption, increase efficiency, and minimize waste. The full report is available on Microchip's Corporate Responsibility website.

Microchip Technology has launched an early access version of MPLAB Extensions for VS Code, allowing embedded designers to use their development tools within the popular IDE. This initiative aims to integrate MPLAB X IDE's capabilities with VS Code's flexibility, enabling smoother project imports and debugging. The early access release includes functionalities such as project import, compilation, programming, and basic debugging. Future updates will enhance features, including the introduction of MPLAB Code Configurator and a Machine Learning Development Suite extension. The extensions are free, with some advanced features requiring a subscription license.