Microchip Technology Inc. Stock Price, News & Analysis

Microchip Technology Inc. (Nasdaq: MCHP) announced a significant software update for its BlueSky GNSS Firewall, enhancing resilience against GPS vulnerabilities for critical infrastructure systems. The BlueSky GNSS Firewall Software Release 2.0 features real-time analysis capabilities to detect jamming and spoofing, improving GPS signal reception security. Developed following participation in DHS-hosted testing events, this update addresses evolving needs and integrates with the TimePictra management software for monitoring GNSS signals globally. This release is part of a subscription service, vital for maintaining uninterrupted service in key sectors.

Microchip Technology Inc. has launched the Adaptec SmartRAID 3100E series RAID adapters aimed at providing entry-level hardware RAID solutions with enhanced performance. These adapters increase performance by over 60% compared to previous models while offering 40% lower power consumption. The SmartRAID 3100E is designed for enterprise applications and supports a built-in DRAM cache for faster processing. The new devices, 3102E-8i and 3101E-4i, are now available for purchase, catering to data reliability and performance needs.

Microchip Technology has announced an expansion of its Transient Voltage Suppressor (TVS) diode family, launching the MDA3KP series, which includes over 25 products with diverse features tailored for critical systems in aviation, space, and data centers. This new family, compliant with MIL-PRF-19500 JANTX standards, offers high reliability and protection against electrical overstress. The MDA3KP series simplifies design needs by integrating multiple diodes into a compact format, enhancing board space efficiency and supporting higher power densities in harsh environments.

Microchip Technology (NASDAQ: MCHP) will present at the B of A Securities 2020 Global Technology Virtual Conference on June 3, 2020, at 1:45 p.m. Pacific Time. CEO Steve Sanghi and CFO Eric Bjornholt will speak during the session. The presentation will be accessible via a live webcast on the Microchip website. The Company emphasizes its commitment to innovation in embedded control solutions, servicing over 120,000 customers across various sectors.

Microchip Technology (NASDAQ: MCHP) announced the offering of $1.0 billion in Senior Secured Notes and $1.2 billion in Senior Notes. The proceeds will repay existing loans, finance cash exchanges for convertible notes totaling approximately $1.6 billion, and potentially support general corporate purposes. Both notes are guaranteed by certain subsidiaries and secured by collateral. The offerings are targeted at qualified institutional buyers and not registered under the Securities Act. Forward-looking statements highlight potential risks, including market conditions and the impact of COVID-19.

Microchip Technology (Nasdaq: MCHP) is advancing its Smart Embedded Vision initiative with the launch of the VectorBlox Accelerator SDK. This software simplifies the development of power-efficient AI applications on PolarFire FPGAs, allowing developers to utilize C/C++ without extensive FPGA experience. PolarFire FPGAs offer up to 50% lower power consumption and 1.5 TOPS performance. The SDK will be available in Q3 2020, beginning with an Early Access Program in June. This initiative aims to facilitate edge AI development in thermally constrained environments.

Microchip Technology will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 13, 2020, at 2:00 p.m. ET. The presentation will feature CEO Steve Sanghi and CFO Eric Bjornholt. A live webcast of the event will be available on the Microchip website. The company specializes in embedded control solutions and serves over 120,000 customers in various sectors, including automotive and aerospace. For more details, visit www.microchip.com.

Microchip Technology reported net sales of $1.326 billion for the quarter ending March 31, 2020, a 3% increase from the previous quarter but a 0.3% decline year-over-year. The company reported GAAP net income of $99.9 million and EPS of $0.39, down from $174.7 million last year. Non-GAAP net income rose to $375.5 million, or $1.46 per share. Cumulatively, Microchip has reduced debt by $2.222 billion over the last seven quarters. Despite COVID-19 challenges, the company announced a record quarterly dividend of 36.75 cents per share.

Microchip Technology has declared a quarterly cash dividend of 36.75 cents per share, marking its 63rd increase since initiating dividend payments in 2003. The dividend will be paid on June 4, 2020, to stockholders recorded as of May 21, 2020. CEO Steve Sanghi noted the company’s strong performance in the March 2020 quarter despite economic uncertainties, emphasizing confidence in its cash-generating capacity.