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. reports developments in embedded-control semiconductors, including microcontrollers, digital signal controllers, analog and connectivity devices, security controllers, and timing systems. Its updates frequently cover products for industrial, automotive, consumer, aerospace and defense, communications, computing, data center, 5G, and infrastructure applications.
Recurring news themes include quarterly financial results, common-stock dividends, new MCU and dsPIC controller families, Single Pair Ethernet PHY transceivers, post-quantum-ready root-of-trust and secure-boot devices, and frequency and time systems such as hydrogen masers and plug-in timing modules. Company announcements also address manufacturing capacity, design tools, software support, and technical features used in secure, connected, and time-sensitive electronic systems.
Microchip Technology Inc. has launched its first commercial-off-the-shelf (COTS) radiation-tolerant power management device, the MIC69303RT 3A Low-Dropout Voltage Regulator. This device is designed for low-Earth orbit (LEO) and other space applications, ensuring reliable operation under harsh conditions. It operates on a low-voltage supply, offering output voltages as low as 0.5V and dropout voltages of 500 mV. The MIC69303RT is compatible with Microchip’s space-qualified microcontrollers and is built to withstand temperatures from -55°C to +125°C. For evaluation, a plastic MIC69303RT evaluation board is available for performance testing.
Microchip Technology (NASDAQ: MCHP) announced the appointment of Robert Rango to its Board of Directors, effective January 3, 2023. Rango, who has over 40 years of industry experience, previously served as CEO of Enevate Corporation and held significant roles at Broadcom and other semiconductor firms. Microchip's Executive Chair, Steve Sanghi, praised Rango's experience in operations and risk management. Rango expressed enthusiasm for joining the board, citing Microchip's leadership and potential for growth and shareholder value creation.
Microchip Technology will present at the UBS Annual Global TMT Conference on December 5, 2022, at 10:00 a.m. Eastern Time. The presentation will feature Eric Bjornholt, Senior VP and CFO, and Sajid Daudi, Head of Investor Relations. A live webcast will be available on the Microchip website. The company emphasizes its leadership in embedded control solutions, serving over 125,000 customers across various sectors. Forward-looking statements are subject to the risks discussed in SEC filings, accessible via the SEC website.
Microchip Technology announced it will present at the Raymond James Technology Investor Conference on December 6, 2022, at 8:35 a.m. ET. The presentation will feature Senior Vice President and CFO Eric Bjornholt and Head of Investor Relations Sajid Daudi. A live webcast will be accessible on the company website. Microchip is a leader in providing secure embedded control solutions, serving over 125,000 customers across various sectors, including industrial and automotive markets. For more details, visit www.microchip.com.
Microchip Technology (NASDAQ: MCHP) reiterated its guidance for Q2 2022, expecting consolidated net sales between $2.135 billion and $2.177 billion. This forecast indicates a sequential growth of 3.0% to 5.0% and a year-over-year growth of 22.7% at the midpoint. The company anticipates achieving its 9th consecutive quarter of record revenue and reaffirms sequential revenue growth expectations for Q3 2023. CEO Ganesh Moorthy highlighted a strong backlog and resilient end markets despite ongoing supply chain challenges.
Microchip Technology has announced its participation in the Credit Suisse 26th Annual Technology Conference on September 14, 2022, at 9:15 a.m. Pacific Time. The Executive Chair, Ganesh Moorthy, will represent the company during the event. A live webcast will be available on Microchip's website, allowing stakeholders to access the presentation. The company, renowned for its embedded control solutions, serves over 125,000 customers across various sectors including industrial and automotive. Forward-looking statements in the presentation will be accompanied by risk discussions as mandated by SEC regulations.
Microchip Technology Inc. (MCHP) has launched the LAN8840 and LAN8841 Gigabit Ethernet transceivers designed for industrial automation, supporting IEEE 1588v2 standards for precision time stamping. These devices offer flexible Ethernet speeds and robust performance in harsh environments, operating from -40°C to +105°C. They also feature energy-saving mechanisms like Wake-on-LAN and Energy-Efficient Ethernet. The LAN8840 starts at $2.78 in bulk orders and aims to meet the synchronization needs in sectors like gas processing and electrical distribution.
Microchip Technology reported record net sales of $2.073 billion for the quarter ended September 30, 2022, a 25.7% increase year-over-year. Key financial highlights include a GAAP net income of $546.2 million and an EPS of $0.98. Non-GAAP results showed a record net income of $814.4 million and an EPS of $1.46. The company paid down $264.9 million in debt and declared a dividend of 32.8 cents per share, reflecting a 41.4% year-over-year increase. Future sales are expected to rise by 3% to 5% sequentially in the December quarter.
Microchip Technology (NASDAQ: MCHP) has declared a quarterly cash dividend of 32.8 cents per share, an increase of 41.4% from last year's dividend of 23.2 cents. This dividend will be payable on December 6, 2022, to stockholders of record on November 22, 2022. The company has consistently paid dividends for 81 consecutive quarters, reflecting its strong cash generation capabilities and commitment to returning capital to shareholders. The positive financial performance in the September 2022 quarter supports this increase, highlighting ongoing debt reduction.
Microchip Technology has announced the launch of its PIC32CXMT family of 32-bit microprocessors, featuring the new MPL460 Power Line Communication (PLC) modem. This platform is designed for smart metering and industrial IoT applications, offering enhanced performance with operations up to 200 MHz and scalability with up to 560 KB of memory. Available in single-core, dual-core, and system-on-chip variants, it provides options for various transceiver solutions and compliance with ANSI and IEC standards. The devices are currently in limited sampling.