Microchip Technology Inc. Stock Price, News & Analysis

Microchip Technology (Nasdaq: MCHP) has launched online courses through Microchip University aimed at educating engineers in embedded design topics. The courses cover subjects like C programming, cryptography, and system control design, enabling faster and more efficient product development. Previously offering only in-person training, Microchip now provides accessible resources for all skill levels, including specialized content on IoT and communication protocols. The initiative reflects Microchip's commitment to enhancing training accessibility for engineers worldwide.

Microchip Technology announced the pricing of $1 billion in senior secured notes due September 1, 2024, with an interest rate of 0.983%. The offering is set to close on May 28, 2021, pending customary conditions. Proceeds will be used to repay the company’s existing 3.922% Senior Secured Notes due 2021. The notes will be guaranteed by certain subsidiaries and secured by collateral. The offering is directed at qualified institutional buyers and non-U.S. persons, adhering to relevant regulations. Microchip cautions that the offering's completion is uncertain due to various market conditions.

Microchip Technology announced an offering of $1.0 billion in senior secured notes, aiming to repay existing debt due 2021. The company plans to use proceeds alongside borrowings from its revolving credit facility. The notes will be secured by collateral and guaranteed by certain subsidiaries. The offering is targeted at qualified institutional buyers, and completion is subject to market conditions. Additionally, forward-looking statements highlight risks including market uncertainties and impacts of COVID-19 on operations.

Microchip Technology has declared a quarterly cash dividend of 41.3 cents per share, an increase of 5.9% from the previous dividend. This dividend is payable on June 4, 2021, to shareholders on record by May 21, 2021. The company has a strong cash generation and debt reduction strategy, reflecting its confidence in business operations, which includes over 67 dividend increases since its inception.

Microchip Technology reported record net sales of $1.467 billion for Q4 FY21, a 10.6% increase year-over-year.

Net income was $116 million or $0.41 per diluted share, up from $99.9 million in the year-ago period. However, guidance projected GAAP EPS lower than previous expectations, affected by an $85.6 million debt settlement loss.

Non-GAAP net income reached $521.4 million, or $1.85 per diluted share, showing resilience amid supply chain constraints.

Quarterly dividend increased to 41.3 cents, with a significant $369.2 million debt reduction reported.

Microchip Technology has announced the qualification of its SAMRH71 Arm-based microprocessor and SAMRH707 microcontroller, both utilizing Arm Cortex-M7 technology for radiation-hardened space applications. Developed in collaboration with ESA and CNES, these components aim to enhance integration and performance while reducing costs for spacecraft systems. The SAMRH71 operates above 200 Dhrystone MIPS and features multiple high-bandwidth communication interfaces, while the SAMRH707 includes analog functions and achieves over 100 DMIPS. Both devices are critical for advancing space system design.

Microchip Technology has launched the maXTouch MXT2912TD-UW touchscreen controller, the first single-chip solution for automotive displays up to 45 inches. This controller simplifies integration for ultrawide screens in electric vehicles and advanced driver-assistance systems. It features high report rates and works with thick overlays, even in moisture. Driven by functional safety standards, it incorporates safety tests and is designed for automotive applications. The controller is in volume production, supported by Microchip’s development tools and technical assistance.

Microchip Technology Inc. has launched the Power Delivery Software Framework (PSF), becoming the first to offer an all-encompassing programming environment for USB Type-C with Power Delivery. This innovative solution allows designers to customize their USB-C PD systems by merging proprietary code with Microchip's PD stack, enhancing flexibility and reducing time to market. The PSF is supported by Microchip's MPLAB X IDE and is available for free download. The UPD301C standalone PD controller is priced at $1.50 for 10,000 units.

Microchip Technology has launched the TimeProvider 4100 Release 2.2 grandmaster, the first industry device to offer software-based redundancy for precise timing solutions. This innovation is crucial for infrastructure providers, including 5G networks and data centers, ensuring reliable, resilient, and secure timing. The device features a multiband Global Navigation Satellite System (GNSS) receiver, enhancing accuracy and reliability. Enhanced security measures have also been added, including anti-jamming capabilities. The TimeProvider 4100 is available now for new and existing systems.