EXHIBIT 99.1 NEWS RELEASE INVESTOR RELATIONS CONTACT: Sajid Daudi -- Head of Investor Relations..... (480) 792-7385 MICROCHIP TECHNOLOGY ANNOUNCES FINANCIAL RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2024 For the quarter ended March 31, 2024 • Net sales of $1.326 billion, down 24.9% sequentially and down 40.6% from the year ago quarter. Our guidance provided on February 1, 2024 was for net sales to be down 25% sequentially. • On a GAAP basis: gross profit of 59.6%; operating income of $253.5 million and 19. ...

CHANDLER, Ariz., May 06, 2024 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that its Board of Directors declared a quarterly cash dividend on its common stock of 45.2 cents per share. The dividend is payable on June 5, 2024, to stockholders of record on May 22, 2024. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend ...

Wall Street analysts expect Microchip Technology (MCHP) to post quarterly earnings of $0.57 per share in its upcoming report, which indicates a year-over-year decline of 65.2%. Revenues are expected to be $1.33 billion, down 40.6% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a company's earnings announcement, it is cr ...

CHANDLER, Ariz., May 01, 2024 (GLOBE NEWSWIRE) -- Developers of spacecraft electronics utilize radiation-tolerant (RT) field programmable gate arrays (FPGAs) to ensure high performance, reliability, power-efficiency and the best-in-class security for emerging space domain threats. To take it a step further and help provide fast, cost-effective software customization, Microchip Technology (NASDAQ:MCHP) has introduced the RT PolarFire® system-on-chip (SoC) FPGA. Developed on Microchip's RT PolarFire FPGA, it ...

CHANDLER, Ariz., April 25, 2024 (GLOBE NEWSWIRE) -- As we see an increased number of electric vehicles (EVs) on the road, the necessary charging infrastructure must expand to meet the increased demand. Adding credit card payment options to EV chargers is becoming a standard practice in many countries—and is a mandate in the European Union—and chargers need to meet Payment Card Industry (PCI) security standards. To help EV charger designers protect their payment architectures, Microchip Technology (NASDAQ:MC ...

Fresh off receiving U.S. CHIPS Act funding for a small manufacturing expansion, Microchip just announced a couple of AI and auto acquisitions.Shares of Microchip (MCHP -3.00%) remain near all-time highs even though its primary customers in the automotive and industrial markets are in the midst of a slump. Clearly, investors are looking beyond some near-term pain and toward a new wave of growth at some point in the future for this Arizona-based chipmaker.Microchip seems to be optimistic as well. It recently ...

Microchip Technology (MCHP) is strengthening its presence in the aviation industry with its latest integrated actuation power solution aimed at addressing the sector’s rising demand for efficiency, sustainability and decarbonization.With a focus on the emerging trend of More Electric Aircraft (MEA), Microchip’s latest solution combines companion gate driver boards with their adaptable Hybrid Power Drive (HPD) modules, which are available in both silicon carbide and silicon technology, spanning a power range ...

Microchip Technology (MCHP) recently increased its expertise in power-efficient, AI-enabled edge solutions with the acquisition of Neuronix AI Labs.MCHP aims to improve its offerings for field programmable gate arrays (FPGAs) by leveraging Neuronix’s neural network sparsity optimization technology, notably its mid-range PolarFire FPGAs and SOCs, renowned for their low-power consumption, reliability and security.The acquisition positions Microchip to build cost-effective, large-scale edge deployments tailore ...

CHANDLER, Ariz., April 15, 2024 (GLOBE NEWSWIRE) -- Microchip Technology (NASDAQ:MCHP) has acquired Neuronix AI Labs to expand its capabilities for power-efficient, AI-enabled edge solutions deployed on field programmable gate arrays (FPGAs). Neuronix AI Labs provides neural network sparsity optimization technology that enables a reduction in power, size and calculations for tasks such as image classification, object detection and semantic segmentation, while maintaining high accuracy. Microchip's mid-range ...

Microchip Technology (MCHP) is expanding its footprint in the automotive technology landscape with the acquisition of VSI Co. Ltd. The Seoul, Korea-based company is a well-known provider of high-speed, asymmetric camera, sensor, and display connectivity technologies for in-vehicle networking (IVN).The acquisition aligns with the growing market projections for automotive radar cameras and LiDAR modules, which are predicted to grow more than double in revenues by 2028 and reach $27 billion, according to Yole ...