Microchip Technology Inc. Stock Price, News & Analysis

Microchip Technology has introduced the XpressConnect family of low-latency retimers, enhancing PCI Express (PCIe) 5.0 and Compute Express Link (CXL) capabilities. These devices triple the reach of PCIe Gen 5 electrical signals while maintaining over 80% lower latency than the PCIe standard, reaching less than 10 nanoseconds. Targeted at data center applications like AI and ML, XpressConnect supports multiple lane configurations and features for improved compatibility and performance. Sampling is underway, with collaboration alongside Intel to expedite market entry.

Microchip Technology announced the transition of CEO Steve Sanghi to Executive Chair, effective March 1, 2021. Ganesh Moorthy, currently President, will assume the CEO role. Sanghi led Microchip for 30 years, growing annual sales from $60 million to $5.2 billion. Under his leadership, the company became a key player in the semiconductor industry, achieving a market cap of $28 billion and a stock price increase of 20,000% since its IPO. Moorthy has been with Microchip since 2001, contributing significantly to its growth and innovation.

Microchip Technology Incorporated (NASDAQ: MCHP) declared a quarterly cash dividend of 36.85 cents per share, payable on December 4, 2020, to stockholders of record on November 20, 2020. This dividend marks the 65th increase since initiating quarterly payments in Q3 2003. CEO Steve Sanghi highlighted strong financial performance amid COVID-19 uncertainties, emphasizing confidence in cash generation and commitment to stockholder value.

Microchip Technology announced the appointment of Karen Rapp to its Board of Directors, effective January 4, 2021. Rapp, currently CFO of National Instruments, brings over 30 years of technology industry experience. Alongside her, Ganesh Moorthy will also join the board, expanding it from five to seven members. Rapp expressed pride in joining Microchip, while CEO Steve Sanghi highlighted her significant leadership background in the semiconductor industry as a strong asset for the company.

Microchip Technology reported net sales of $1.31 billion for Q2 fiscal 2021, down 2.1% year-over-year and flat sequentially, in line with previous guidance. The company achieved a GAAP gross margin of 61.7%, operating income of $226.2 million, and net income of $73.6 million, equivalent to EPS of $0.27 per diluted share. Meanwhile, non-GAAP metrics showed improved performance with an EPS of $1.56, surpassing guidance by $0.15. Microchip declared a record quarterly dividend of 36.85 cents per share, reflecting strong cash flow from operations of $455.8 million.

Microchip Technology (Nasdaq: MCHP) has announced its AEC-Q101-qualified 700 and 1200V SiC Schottky Barrier Diode power devices aimed at enhancing the reliability of electric vehicles. As the demand for vehicle electrification grows, Microchip's innovative solutions provide significant advantages, including lower system costs and improved performance under extreme conditions. The company highlights its long-standing automotive industry experience and robust testing metrics that demonstrate superior reliability. The new devices are currently available for volume production.

Microchip Technology Inc. has launched the LX7720 radiation-hardened mixed signal motor controller, a pioneering device aimed at enhancing the reliability and efficiency of space systems by minimizing weight and board space. This advanced integrated circuit consolidates over 20 functions, reducing component count and potential failure points in satellite applications. It delivers significant radiation tolerance, and is already being utilized in various space robotics and human-rated programs. The LX7720 complements Microchip's existing product line, particularly its radiation tolerant FPGA and MCU solutions.

Microchip Technology Inc. announced the acquisition of LegUp Computing Inc., based in Toronto, enhancing its PolarFire FPGA product line with a high-level synthesis (HLS) tool. This acquisition aims to simplify programming for software engineers by allowing C/C++ applications to be directly mapped onto FPGAs, thus improving design productivity and performance. The LegUp HLS tool will be available to early access customers immediately, with a fully integrated design flow expected in the first half of 2021. This strategic move positions Microchip to better serve developers in edge compute applications.

Microchip Technology has announced the release of two new microcontroller (MCU) families, PIC18-Q41 and AVR DB, aimed at enhancing IoT applications with advanced analog capability. These MCUs integrate operational amplifiers and analog-to-digital converters, designed for cost-effective solutions in space-constrained environments. The pricing starts at $0.65 for PIC18-Q41 and $0.95 for AVR DB in 10,000-unit quantities. Supported by a unified development environment, they cater to applications in industrial, automotive, and medical devices.