Microchip Technology Sees Demand Strengthen as Channel Normalizes, Shifts Focus to Debt Paydown

While Microchip said it is seeing conditions normalize, Kaestner cautioned that visibility into true end demand remains limited given a customer base of roughly 10,000 and significant exposure to distribution. He said some customers are buying “to consumption” in certain products, while others are still working through inventory in select areas, though he characterized those pockets as not representing the majority.Kaestner said bookings activity strengthened during the December quarter, with a book-to-bill ...