CHANDLER, Ariz., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, provided lower updated revenue guidance for the December 2024 quarter and announced manufacturing restructuring plans. "In the first two weeks of my newly appointed role as Interim CEO and President, I have done a deep dive into the operations of the Company and determined that certain actions are necessary. I want to clarify for investors that ...

CHANDLER, Ariz., Nov. 18, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that Ganesh Moorthy is retiring as Chief Executive Officer, President and as a member of the Board of Directors in connection with his 65th birthday at the end of November. The Board has appointed Steve Sanghi as interim Chief Executive Officer and President effective today. Mr. Sanghi will remain as Chair of the ...

Microchip Technology (MCHP) is expanding its portfolio with a significant update to its IGBT 7 devices offered in different packages, multiple topologies, and current and voltage ranges. The new portfolio is tailored for high-growth sectors, including sustainability, e-mobility and data centers, and is designed to meet the growing demands for high efficiency, compact size and enhanced performance in power electronics. Designers can choose from IGBT 7 devices in standard D3 and D4 62 mm, and SP6C, SP1F and S ...

CHANDLER, Ariz., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Power components are evolving to meet the increasing demands for higher efficiency, smaller size and greater performance in power electronic systems. To provide system designers with a wide range of power solutions, Microchip Technology (Nasdaq: MCHP) today announces its portfolio of IGBT 7 devices offered in different packages, multiple topologies, and current and voltage ranges. Featuring increased power capability, lower power losses and compact device s ...

Have you assessed how the international operations of Microchip Technology (MCHP) performed in the quarter ended September 2024? For this chipmaker, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.In the current era of a tightly interconnected global economy, the proficiency of a company to penetrate international markets significantly influences its financial health and trajectory of growth. For ...

Microchip Technology Incorporated MCHP reported upbeat earnings for its second quarter on Tuesday.The company posted quarterly earnings of 46 cents per share which beat the analyst consensus estimate of 43 cents per share. The company reported quarterly sales of $1.164 billion which beat the analyst consensus estimate of $1.152 billion.“Our September quarter results were consistent with our guidance, as we continued to navigate through an inventory correction that’s occurring in the midst of macro weakness ...

Microchip Technology (MCHP) reported second-quarter fiscal 2025 non-GAAP earnings of 46 cents per share, which beat the Zacks Consensus Estimate by 6.98% but plunged 71.6% year over year.Net sales of $1.164 billion decreased 48.4% year over year, which surpassed the Zacks Consensus Estimate by 1.09%.The decline in sales was due to ongoing customer destocking and weak demand across end markets, particularly in the consumer and automotive sectors, with a sequential drop of nearly 22%.Following the results, Mi ...

Microchip Technology Incorporated NASDAQ: MCHP has the power to withstand its headwinds in 2024 and sustain the uptrend in its share price. The uptrend, begun in 20216, has increased the stock’s value by 300%, including the 2024 price correction, and another 300% upside is coming for those prepared to wait. Not only are the company’s mixed-signal semiconductor products critical to technology, but a rebound in demand is coming in 2025 that will be the beginning of a multi-year upcycle.  Microchip Technology ...

Microchip Technology Incorporated (NASDAQ:MCHP) Q2 2025 Earnings Conference Call November 5, 2024 5:00 PM ET Company Participants Eric Bjornholt - Senior Vice President and Chief Financial Officer Ganesh Moorthy - President and Chief Executive Officer Richard J. Simoncic - Chief Operating Officer Conference Call Participants Timothy Arcuri - UBS Vivek Arya - Bank of America Securities Toshiya Hari - Goldman Sachs Chris Caso - Wolfe Research Blayne Curtis - Jefferies Christopher Rolland - Susquehanna Interna ...

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 ...