Microchip Technology Inc. Stock Price, News & Analysis

Microchip Technology reported record net sales of $1.964 billion for the June 2022 quarter, up 25.1% year-over-year. GAAP net income was $507.2 million, translating to $0.90 per diluted share. Non-GAAP net income reached $767.2 million, or $1.37 per diluted share. The company declared a quarterly dividend of 30.1 cents, a 9.1% increase sequentially. Microchip also repurchased approximately $195.2 million in stock. Despite macro uncertainties, the company expects net sales to increase 3% to 7% sequentially in the September quarter.

Microchip Technology announced a quarterly cash dividend of 30.1 cents per share, payable on September 2, 2022. This represents a significant 37.8% increase from the previous dividend of 21.85 cents in August 2021, marking 80 consecutive quarters of dividend payments. The company's strong financial performance in the June 2022 quarter supported solid cash generation and debt reduction, reflecting confidence in its ongoing commitment to returning capital to shareholders.

Microchip Technology Inc. (Nasdaq: MCHP) has launched the SMC 2000 series of Smart Memory Controllers, enhancing memory bandwidth and capacity for next-generation CPUs and SoCs. These controllers, compliant with CXL 1.1 and 2.0 standards, allow efficient utilization of DDR4 and DDR5 memory, improving data center cost-effectiveness. The SMC 2000 16x32G model supports high-capacity configurations with significant reductions in CPU pin requirements. Microchip aims to boost performance in high-demand computing environments, optimizing application workloads and ensuring robust enterprise security.

Microchip Technology has introduced the maXTouch Knob on Display (KoD) controller, a cutting-edge automotive-grade touchscreen solution integrating capacitive rotary encoders with multi-touch displays. This innovation allows designers to customize knob shapes and positions without altering touch patterns, enhancing flexibility and reducing costs. The KoD controller supports sealed Human Machine Interface (HMI) modules, improving user safety by allowing adjustments without visual distraction. Available in KD and MK variants, it caters to various design needs while expediting development with robust tools.

Microchip Technology Inc. has launched the AVR-IoT Cellular Mini Development Board, aimed at simplifying the design of IoT devices with secure cellular connections. This board, based on the AVR128DB48 8-bit microcontroller, is suitable for connecting to 5G networks, particularly in remote areas lacking traditional connectivity.

Enhanced with security features from Microchip’s ATECC608 CryptoAuthentication technology, it offers low power consumption and is designed for various industries, including agriculture and industrial applications. Priced at $59.99, it supports Arduino compatibility.

Microchip Technology, listed as NADSAQ:MCHP, announced its participation in the Bank of America Securities 2022 Global Technology Conference on June 8, 2022, at 12:45 p.m. PT. Presenters will include Mr. Ganesh Moorthy, President and CEO, and Mr. Eric Bjornholt, Senior Vice President and CFO. The presentation will be available via a live webcast on the Microchip website. The company, based in Chandler, Arizona, serves over 120,500 customers across various markets including industrial and automotive, offering comprehensive embedded control solutions.

Microchip Technology announced its participation in the Stifel Cross-Sector Insight Conference on June 7, 2022, at 11:30 a.m. ET. Executive Chair Steve Sanghi will represent the company. A live webcast will be accessible on Microchip's website. The company emphasizes its role as a provider of smart, connected, and secure embedded control solutions, with a customer base exceeding 120,500 in various sectors including industrial, automotive, and aerospace. For more details, SEC filings are available through the SEC’s website.