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 ...

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 ...

Core Viewpoint - Microchip Technology has launched its IGBT 7 portfolio, designed to meet the growing demands for efficiency, compactness, and performance in power electronic systems [1][2]. Product Features - The IGBT 7 devices feature increased power capability, lower power losses, and compact sizes, targeting high-growth markets such as sustainability, E-Mobility, and data centers [2]. - The devices are available in various packages and configurations, including standard D3 and D4 62 mm packages, with voltage ranges from 1200V to 1700V and current ranges from 50A to 900A [3]. Applications - These devices serve as key components for applications in solar inverters, hydrogen ecosystems, commercial and agricultural vehicles, and More Electric Aircraft (MEA) [2]. - The IGBT 7 portfolio is suitable for both general industrial applications and specialized aerospace and defense applications, enhancing flexibility for customers [4]. Technical Advantages - The IGBT 7 devices offer lower on-state IGBT voltage, improved antiparallel diode performance, and increased current capability, leading to lower power losses and higher system efficiency [4]. - They are designed to improve system reliability, reduce electromagnetic interference (EMI), and minimize voltage spikes, particularly beneficial for motor control applications [5]. Integration and Support - Microchip's power solutions can be integrated with a wide range of its products, including FPGAs, microcontrollers, and digital signal controllers, providing a comprehensive system solution [4]. - The company offers extensive technical support and a broad portfolio of power management solutions, including Silicon and Silicon Carbide technologies [6]. Availability - The IGBT 7 portfolio is available for purchase in production quantities through Microchip sales representatives and authorized distributors [7].

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 ...

Core Insights - Microchip Technology (MCHP) reported a revenue of $1.16 billion for the quarter ended September 2024, reflecting a year-over-year decline of 48.4% and an EPS of $0.46 compared to $1.62 a year ago, with a revenue surprise of +1.09% over the Zacks Consensus Estimate [1] Financial Performance - Net Sales for Mixed-signal Microcontrollers were $594.60 million, slightly above the seven-analyst average estimate of $590.98 million, but represented a year-over-year decline of 53.6% [3] - Net Sales for Other categories reached $277.10 million, exceeding the seven-analyst average estimate of $249.12 million, with a year-over-year decline of 21.1% [3] - Net Sales for Analog products were reported at $292.10 million, below the average estimate of $311.56 million from seven analysts, indicating a year-over-year change of -53.1% [3] Stock Performance - Over the past month, shares of Microchip Technology have returned -2.6%, compared to a -0.5% change in the Zacks S&P 500 composite, with the stock currently holding a Zacks Rank 4 (Sell), suggesting potential underperformance against the broader market in the near term [4]

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 ...