Microchip Technology Inc. Stock Price, News & Analysis

Microchip Technology (MCHP) has launched the ATA650x CAN FD System Basis Chips (SBCs), featuring an integrated high-speed CAN FD transceiver and 5V Low-Drop Voltage Regulator. The new chips come in compact 8-, 10- and 14-pin packages with footprints as small as 2mm × 3mm, supporting data rates up to 5 Mbps.

Key features include low power consumption with 15 μA typical sleep current, VCC supply voltage control, and comprehensive safety features including fail-safe protection and diagnostic functions. The chips are AEC-Q100 Grade 0 qualified, operating from −40°C to +150°C, and are Functional Safety ready for ISO 26262 certification.

Microchip Technology (MCHP) has launched new PolarFire® FPGA and SoC solution stacks for smart robotics and medical imaging applications. These stacks expand upon existing smart embedded vision and industrial edge solutions, featuring firmware and IP cores for AI-assisted 4K60 computer vision, sensor interfaces, and high-speed Ethernet protocols.

The solution includes ROS-2 compatible cores for robotics, industrial networking protocols, and comprehensive software development kits. The stacks integrate with Microchip's power-efficient PolarFire FPGAs and SoC FPGAs, offering cyber security protections and IEC61503 SIL 3 functional safety certification through the Libero® SoC Design Suite.

A key implementation includes the recently announced PolarFire FPGA Ethernet Sensor Bridge, compatible with NVIDIA® Holoscan platform, enabling edge-to-cloud applications and AI/ML inferencing in medical, industrial, and automotive markets.

Microchip Technology, a leading provider of smart, connected, and secure embedded control solutions, will present at the UBS Global Technology and AI Conference on December 3, 2024, at 3:35 p.m. (Mountain Time). The presentation will be delivered by Steve Sanghi, President and CEO. A live webcast will be available on the Microchip website and through UBS.

Microchip Technology has revised its December 2024 quarter revenue guidance downward to approximately $1.025 billion, citing slower-than-anticipated turns orders. The company announced plans to shut down its Tempe Fab 2 facility by September 2025, expecting annual cash savings of $90 million. The closure's P&L savings are anticipated to begin in June 2026, with restructuring costs estimated between $3-8 million initially, and potential additional costs up to $15 million. The company plans to transfer production to its Oregon and Colorado facilities, which have sufficient expansion capacity. This restructuring aims to address high inventory levels, with inventory moderation expected to begin in March 2025.

Microchip Technology (NASDAQ: MCHP) announced that CEO and President Ganesh Moorthy is retiring in connection with his 65th birthday at the end of November. The Board has appointed Steve Sanghi as interim CEO and President, effective immediately, while maintaining his position as Board Chair. Moorthy served the company for 23 years, including the last four years as President and CEO. Sanghi expressed commitment to leading Microchip through the current industry downturn and focusing on returning the company to growth in revenue and profitability.

Microchip Technology (MCHP) has launched its PolarFire FPGA Ethernet Sensor Bridge compatible with NVIDIA Holoscan sensor processing platform. This solution supports MIPI CSI-2-based sensors and MIPI D-PHY physical layer, with future support planned for additional protocols. The platform combines PolarFire FPGA's power-efficient technology with NVIDIA Holoscan's AI capabilities, enabling low-latency communication and multi-protocol sensor support for edge AI applications. The solution features embedded security, SEU immunity, and is designed for medical, industrial, and automotive markets.

Microchip Technology (MCHP) has unveiled its new portfolio of IGBT 7 power devices, designed for sustainability, E-Mobility, and data center applications. The portfolio features multiple topologies, packages, and voltage ranges from 1200V to 1700V with currents from 50A to 900A.

The devices offer improved performance with lower power losses, higher power density, and enhanced system efficiency. Available in D3, D4 62mm, SP6C, SP1F, and SP6LI packages, these components support various configurations including three-level NPC, three-phase bridge, and multiple chopper topologies. The portfolio is specifically optimized for applications in solar inverters, hydrogen ecosystems, commercial vehicles, and More Electric Aircraft (MEA).

Microchip Technology (NASDAQ: MCHP) has announced a 3.6% year-over-year increase in its quarterly cash dividend to 45.5 cents per share, payable on December 6, 2024, to stockholders of record on November 22, 2024. The company has consistently increased its dividend payments since initiating them in fiscal year 2003, marking its 83rd dividend increase. Microchip serves approximately 116,000 customers across industrial, automotive, consumer, aerospace and defense, communications, and computing markets.

Microchip Technology reported Q2 fiscal 2025 results with net sales of $1.164 billion, down 6.2% sequentially and 48.4% year-over-year. GAAP net income was $78.4 million ($0.14 per share), while non-GAAP net income reached $250.2 million ($0.46 per share). The company declared a record quarterly dividend of 45.5 cents per share, up 3.6% year-over-year. A $13.3 million legal settlement positively impacted revenue and profits. The company returned $261 million to stockholders through dividends and share repurchases. For Q3 FY2025, Microchip expects net sales between $1.025-$1.095 billion amid ongoing inventory corrections and macro uncertainties.