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 (NASDAQ: MCHP) will participate in the Goldman Sachs Global Semiconductor Conference on May 30, 2024, at 12:50 p.m. Eastern Time. The presentation will be led by Chief Operating Officer Rich Simoncic and Head of Investor Relations Sajid Daudi. A live webcast will be accessible through the Microchip website.
Microchip Technology (NASDAQ: MCHP) is proposing a private offering of $1.1 billion in Convertible Senior Notes due 2030. This offering targets qualified institutional buyers in compliance with Rule 144A under the Securities Act of 1933. The notes are unsecured and interest will be paid semi-annually. Upon conversion, Microchip will choose to pay in cash, common stock, or a combination. The funds will be used for capped call transactions to mitigate stock dilution and to repay existing debts.
The initial purchasers have the option to acquire an additional $150 million in notes. The capped call transactions hedge potential dilution from note conversions and could influence Microchip’s stock price. The offering is subject to market conditions and is not registered under the Securities Act, thus to qualified buyers.
Microchip Technology has released version 2.4 of its TimeProvider® 4100 grandmaster firmware, incorporating the BlueSky™ firewall technology to detect and validate GNSS signals against spoofing and jamming threats. This update also supports IEEE® 1588 power profiles for 5G private network synchronization and can serve up to 2,000 PTP clients. Enhancements include the ability to filter legacy input signals, Active/Standby and Active/Active redundancy modes, and integration with the TimePictra® Synchronization Management System. The updated firmware aims to provide a secure, scalable, and resilient synchronization solution for critical infrastructures.
Microchip Technology, a prominent provider of embedded control solutions, will present at the JP Morgan 52nd Annual Global Technology, Media, and Communications Conference on May 22, 2024. The event, featuring Senior VP and CFO Eric Bjornholt, will start at 8:40 a.m. ET. A live webcast will be available through Raymond James and accessible on Microchip's official website.
Microchip Technology has introduced the SAMD21RT, a 32-bit radiation-tolerant microcontroller (MCU) based on the Arm® Cortex®-M0+ architecture, targeting the aerospace and defense markets. Available in both ceramic and plastic 64-pin packages, the SAMD21RT is designed for space-constrained applications with a 10mm x 10mm footprint. It operates at up to 48 MHz and includes 128 KB Flash, 16 KB SRAM, and various analog functions like ADC, DAC, and comparators. The MCU withstands harsh environments, including temperatures from −40°C to 125°C and radiation with a TID capability of up to 50 krad and SEL immunity up to 78 MeV.cm²/mg. Supported by a comprehensive system solution, it promises enhanced performance and reliability for space missions. The SAMD21RT is now available for sampling.
Microchip Technology introduces a new family of Radiation-Tolerant LE50-28 isolated DC-DC 50W power converters to meet the growing demand in the Low-Earth Orbit market. These power converters offer high reliability, flexibility, and easy scalability for space applications.
Microchip Technology, a leading provider of embedded control solutions, raised its quarterly cash dividend by 18.0% year-over-year to 45.2 cents per share. The dividend is payable on June 5, 2024, to stockholders of record on May 22, 2024. This marks the 87th consecutive quarter of dividend payments for Microchip, reflecting confidence in its cash-generating ability and commitment to shareholders. Despite market dynamics, the company aims to return 100% of adjusted free cash flow to shareholders by March 2025.
Microchip Technology reported a decrease in net sales for the fourth quarter and fiscal year 2024, with GAAP net income and EPS also declining. The company returned a record amount to shareholders through dividends and share repurchases. Despite challenges, Microchip remains focused on innovation and capital return programs. The company anticipates stabilization in demand for fiscal year 2025, with a focus on achieving sequential revenue growth by the September 2024 quarter.
Cohu, Inc. (NASDAQ: COHU) has appointed Karen M. Rapp to its Board of Directors. Ms. Rapp brings extensive experience in corporate development, financial management, and information technology. With a background in leading companies like National Instruments Corp. and NXP Semiconductors N.V., her expertise will be valuable for Cohu's strategic growth.
Microchip Technology announces the opening of registration for its 24th Annual Worldwide MASTERs Conference in Scottsdale, Arizona. The conference will feature technical sessions, keynote by CEO Ganesh Moorthy, and networking opportunities. Registration pricing starts at $1,797 for 2½ days of training. The event aims to provide advanced technical learning sessions for embedded control engineers.
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