Microchip Technology (MCHP) reported $1.16 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 48.4%. EPS of $0.46 for the same period compares to $1.62 a year ago.The reported revenue represents a surprise of +1.09% over the Zacks Consensus Estimate of $1.15 billion. With the consensus EPS estimate being $0.43, the EPS surprise was +6.98%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to ...

Core Viewpoint - Microchip Technology reported quarterly earnings of $0.46 per share, exceeding the Zacks Consensus Estimate of $0.43 per share, but down from $1.62 per share a year ago, indicating a significant decline in profitability [1][2] Financial Performance - The company achieved revenues of $1.16 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.09%, but down from $2.25 billion year-over-year [2] - Over the last four quarters, Microchip Technology has surpassed consensus EPS estimates three times [2] - The earnings surprise for the recent quarter was 6.98%, while the previous quarter had a surprise of 1.92% [1][2] Stock Performance - Microchip Technology shares have declined approximately 17.4% since the beginning of the year, contrasting with the S&P 500's gain of 19.8% [3] - The current Zacks Rank for the stock is 4 (Sell), indicating expectations of underperformance in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.48 on revenues of $1.2 billion, and for the current fiscal year, it is $2.01 on revenues of $4.87 billion [7] - The estimate revisions trend for Microchip Technology has been unfavorable ahead of the earnings release, which may impact future stock movements [6][5] Industry Context - The Semiconductor - Analog and Mixed industry is currently ranked in the bottom 42% of over 250 Zacks industries, suggesting a challenging environment for companies within this sector [8]

CHANDLER, Ariz., Nov. 05, 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 45.5 cents per share. The dividend is payable on December 6, 2024, to stockholders of record on November 22, 2024. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased i ...

Net sales of $1.164 billion, down 6.2% sequentially and down 48.4% from the year ago quarter. The midpoint of our guidance provided on August 1, 2024 was net sales of $1.150 billion.Revenue, gross profit and non-GAAP gross profit were positively impacted by a $13.3 million legal settlement. This settlement also positively impacted GAAP and non-GAAP EPS by $0.02 per diluted share.On a GAAP basis: gross profit of 57.4%; operating income of $146.6 million and 12.6% of net sales; net income of $78.4 million; an ...

Microchip Technology (MCHP) is set to release its second-quarter fiscal 2025 results on Nov. 5.Microchip expects net sales of $1.12-$1.18 billion for the second quarter of fiscal 2025. Non-GAAP earnings are anticipated between 40 cents and 46 cents per share.The Zacks Consensus Estimate for fiscal second-quarter earnings is pegged at 43 cents per share, unchanged over the past 60 days, suggesting a 73.46% year-over-year decline.The consensus estimate for revenues is pegged at $1.15 billion, indicating a yea ...

Wall Street analysts expect Microchip Technology (MCHP) to post quarterly earnings of $0.43 per share in its upcoming report, which indicates a year-over-year decline of 73.5%. Revenues are expected to be $1.15 billion, down 48.9% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before a company reveals its earnings, it is vita ...

CHANDLER, Ariz., Oct. 15, 2024 (GLOBE NEWSWIRE) -- With Industry 4.0, the rapid rise of Artificial Intelligence (AI), digitized manufacturing and the age of IoT everything, the demand for wireless connectivity in commercial and industrial applications is growing at an exceptional pace. These applications typically require reliable connectivity that can withstand extreme environments that are exposed to high temperatures, background noise and obstructions. To help meet this need, Microchip Technology (Nasdaq ...

Microchip Technology (MCHP) recently introduced the Microchip Graphics Suite (MGS), a comprehensive solution aimed at simplifying the integration of graphical user interfaces (GUIs) into electronic devices. Designed to enhance user experiences by enabling intuitive and visually appealing interactions, MGS supports embedded developers in incorporating animations, images and touchscreens into its designs. Seamlessly integrating with Microchip's 32-bit microcontrollers (MCUs) and microprocessors (MPUs), MGS is ...

CHANDLER, Ariz., Sept. 19, 2024 (GLOBE NEWSWIRE) -- Designers are incorporating Graphical User Interfaces, or GUIs, into more electronic devices to enhance the user experience by providing intuitive and visually appealing interactions with today's modern applications. To support embedded developers with their designs, Microchip Technology (Nasdaq: MCHP) today announces Microchip Graphics Suite (MGS), an easy-to-learn, comprehensive solution that simplifies the process of incorporating GUIs, animations and i ...

CHANDLER, Ariz., Sept. 10, 2024 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that the Company will present at the Goldman Sachs Communacopia + Technology Conference on Wednesday, September 11, 2024 at 1:45 p.m. (Pacific Time). Presenting for the Company will be Mr. Eric Bjornholt, Senior Vice President and Chief Financial Officer, and Mr. Sajid Daudi, Head of Investor Relations. A live we ...