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Microchip Technology (Nasdaq: MCHP) announced the addition of 12 new products to its Bluetooth Low Energy portfolio on May 30, 2024. These products, such as the WBZ350 module and PIC32CX-BZ3 SoC, aim to reduce barriers for design integration across various skill levels.
The portfolio offers developers a range of options, including plug-and-play modules and advanced multi-protocol System-on-Chip (SoC) solutions. Applications span IoT smart home systems, Industrial IoT (IIoT), and automotive designs.
The new products simplify development by minimizing RF design optimization, regulatory certification, and software development costs. Microchip provides comprehensive support, including development tools, software, and design check services.
Microchip Technology (NASDAQ: MCHP) has announced the pricing of $1.1 billion of Convertible Senior Notes due 2030. The notes will bear a 0.75% annual interest rate, payable semi-annually. Microchip expects $1.09 billion in net proceeds, with an additional option for initial purchasers to procure $150 million more within 13 days. The proceeds will be used for capped call transactions and debt repayment. The initial conversion rate is set at 8.2076 shares per $1,000 note, with a capped call transaction price at $167.23 per share. These transactions aim to mitigate potential stock dilution. The notes are redeemable from June 5, 2027, under specific conditions.
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.
