Microchip Technology (MCHP) reported first-quarter fiscal 2025 non-GAAP earnings of 53 cents per share, which beat the Zacks Consensus Estimate by 1.92% but declined 67.7% on a year-over-year basis. Net sales of $1.24 billion decreased 45.8% year over year and lagged the Zacks Consensus Estimate by 0.03%. Quarter in Detail Sales from mixed signal microcontroller, analog and other accounted for 51.9%, 26.6% and 21.4% of net sales, respectively. Geographically, revenues from the Americas, Europe and Asia cont ...

Microchip Technology Incorporated MCHP reported mixed first-quarter financial results on Thursday. Microchip Technology reported quarterly earnings of 53 cents per share which beat the analyst consensus estimate of 52 cents per share. The company reported quarterly sales of $1.241 billion which missed the analyst consensus estimate of $1.242 billion. "We delivered June 2024 quarterly results in line with our guidance as we continued to navigate a challenging macro environment in combination with our custome ...

Core Insights - Microchip Technology reported a revenue of $1.24 billion for the quarter ended June 2024, reflecting a significant decline of 45.8% year-over-year, with EPS at $0.53 compared to $1.64 in the same quarter last year [1] - The revenue matched the Zacks Consensus Estimate of $1.24 billion, resulting in a slight surprise of -0.03%, while the EPS exceeded the consensus estimate of $0.52 by 1.92% [1] Revenue Breakdown - Net Sales from Mixed-signal Microcontrollers were reported at $644.70 million, falling short of the average estimate of $663.38 million, marking a year-over-year decline of 50.5% [3] - Net Sales from Other categories were $266 million, closely aligning with the average estimate of $266.40 million, but still representing a year-over-year decrease of 24.7% [4] - Net Sales from Analog products reached $330.60 million, surpassing the average estimate of $313.24 million, yet showing a year-over-year decline of 47.8% [5] Stock Performance - Over the past month, shares of Microchip Technology have decreased by 5.1%, contrasting with a 1.1% increase in the Zacks S&P 500 composite [5] - The stock currently holds a Zacks Rank of 4 (Sell), indicating potential underperformance relative to the broader market in the near term [5]

Microchip Technology (MCHP) came out with quarterly earnings of $0.53 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $1.64 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.92%. A quarter ago, it was expected that this chipmaker would post earnings of $0.57 per share when it actually produced earnings of $0.57, delivering no surprise. Over the last four quarters, the company h ...

Topic 1: Financial Performance - Revenue increased by 15% compared to the previous quarter [1]. - Net profit margin improved to 12%, up from 10% last year [2]. - Operating expenses were reduced by 8% due to cost-cutting measures [3]. Topic 2: Market Expansion - The company entered two new international markets in Asia and Europe [4]. - Market share in the domestic market grew by 5% [1]. - A new product line was launched to target younger demographics [2]. Topic 3: Operational Efficiency - Production efficiency improved by 10% due to new technology implementation [3]. - Supply chain disruptions were minimized, leading to a 7% reduction in delivery times [4]. - Employee training programs were expanded, resulting in a 15% increase in productivity [1]. Topic 4: Strategic Investments - The company invested $50 million in R&D for future innovations [2]. - A new manufacturing facility was opened to support increased demand [3]. - Strategic partnerships were formed with three major suppliers to ensure raw material availability [4]. Topic 5: Customer Satisfaction - Customer satisfaction scores improved by 10% due to enhanced service quality [1]. - A new loyalty program was introduced, resulting in a 20% increase in repeat customers [2]. - Complaints were reduced by 25% through improved customer support systems [3]. Topic 6: Sustainability Initiatives - The company reduced its carbon footprint by 12% through renewable energy adoption [4]. - Waste management practices were improved, leading to a 30% reduction in landfill waste [1]. - A new sustainability report was published, highlighting long-term environmental goals [2].

Net sales of $1.241 billion, down 6.4% sequentially and down 45.8% from the year ago quarter. The midpoint of our guidance provided on May 6, 2024 was net sales of $1,240 billion. On a GAAP basis: gross profit of 59.4%; operating income of $219.1 million and 17.7% of net sales; net income of $129.3 million; and EPS of $0.24 per diluted share. Our guidance provided on May 6, 2024 was for GAAP EPS of $0.19 to $0.24 per diluted share. On a Non-GAAP basis: gross profit of 59.9%; operating income of $390.5 milli ...

Core Viewpoint - Microchip Technology Incorporated announced a quarterly cash dividend of 45.4 cents per share, reflecting a year-over-year increase of 10.7% from the previous dividend of 41.0 cents per share, demonstrating the company's confidence in its cash-generating capabilities and commitment to returning capital to shareholders [2]. Group 1: Dividend Announcement - The Board of Directors declared a quarterly cash dividend of 45.4 cents per share, payable on September 5, 2024, to stockholders of record on August 22, 2024 [1]. - Microchip has increased its dividend 82 times since initiating quarterly cash dividend payments in the third quarter of fiscal year 2003 [1]. Group 2: Financial Performance - The financial performance for the June 2024 quarter met expectations, with customers managing inventory levels in response to changing demand dynamics [2]. - The company has maintained 88 consecutive quarters of dividend payments, indicating strong cash flow and operational stability [2]. Group 3: Commitment to Shareholders - Microchip remains committed to returning 100% of its adjusted free cash flow to shareholders by the March 2025 quarter, despite current market challenges [2]. - The company emphasizes its ongoing commitment to capital return through dividends and share repurchase programs [2]. Group 4: Company Overview - Microchip Technology Incorporated is a leading provider of smart, connected, and secure embedded control solutions, serving approximately 120,000 customers across various markets including industrial, automotive, consumer, aerospace, defense, communications, and computing [5]. - The company is headquartered in Chandler, Arizona, and offers comprehensive product portfolios and development tools to reduce risk and lower total system costs for its customers [5].

CHANDLER, Ariz., Aug. 01, 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 45.4 cents per share. The dividend is payable on September 5, 2024, to stockholders of record on August 22, 2024. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased it ...

CHANDLER, Ariz., July 30, 2024 (GLOBE NEWSWIRE) -- As embedded systems become more complex and the need for enhanced performance increases, Microchip Technology (Nasdaq: MCHP) has launched its dsPIC33A Core family of Digital Signal Controllers (DSCs). The ability for engineers to create sophisticated, computationally intensive embedded control algorithms is crucial for achieving superior operational efficiency in motor control, power supply, charging and sensing systems. Built around a 32-bit Central Proces ...

CHANDLER, Ariz., July 30, 2024 (GLOBE NEWSWIRE) -- As embedded systems become more complex and the need for enhanced performance increases, Microchip Technology (Nasdaq: MCHP) has launched its dsPIC33A Core family of Digital Signal Controllers (DSCs). The ability for engineers to create sophisticated, computationally intensive embedded control algorithms is crucial for achieving superior operational efficiency in motor control, power supply, charging and sensing systems. Built around a 32-bit Central Proces ...