Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications. It also provides development tools that enable system designers to program microcontroller products for specific applications; field-programmable gate array (FPGA) products; and analog, interface, mixed signal, and timing products comprising power management, linear, mixed-signal, high-voltage, thermal management, discrete diodes and metal oxide semiconductor field effect transistors (MOSFETS), radio frequency (RF), drivers, safety, security, timing, USB, Ethernet, wireless, and other interface products. In addition, the company offers memory products consisting of serial electrically erasable programmable read-only memory, serial flash memories, parallel flash memories, serial static random access memories, and serial electrically erasable random access memories for the production of very small footprint devices; and licenses its SuperFlash embedded flash and Smartbits one time programmable NVM technologies to foundries, integrated device manufacturers, and design partners for use in the manufacture of microcontroller products, gate array, RF, analog, and neuromorphic compute products that require embedded non-volatile memory, as well as provides engineering services. Further, it offers wafer foundry and assembly, and test subcontracting manufacturing services; and timing systems products, application specific integrated circuits, and aerospace products. Microchip Technology Incorporated was incorporated in 1989 and is headquartered in Chandler, Arizona.
IPO Year: 1993
Exchange: NASDAQ
Website: microchip.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/6/2024 | $80.00 → $70.00 | Hold | TD Cowen |
| 9/23/2024 | $89.00 → $80.00 | Buy → Hold | Truist |
| 8/16/2024 | $90.00 → $100.00 | Neutral → Overweight | Piper Sandler |
| 8/2/2024 | $90.00 → $80.00 | Hold | TD Cowen |
| 8/2/2024 | $110.00 → $90.00 | Buy → Neutral | BofA Securities |
| 7/11/2024 | $102.00 → $100.00 | Overweight → Equal-Weight | Morgan Stanley |
| 5/24/2024 | $85.00 → $115.00 | Neutral → Buy | Mizuho |
| 5/13/2024 | $100.00 → $115.00 | Buy | Jefferies |
| 5/7/2024 | $80.00 → $90.00 | Hold | TD Cowen |
| 4/16/2024 | $106.00 | Outperform | Evercore ISI |
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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 its dividend 83 times since then. About Microchip: Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use deve
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; and EPS of $0.14 per diluted share. Our guidance provided on August 1, 2024 was for GAAP EPS of $0.10 to $0.14 per diluted share. On a Non-GAAP basis: gross profit of 59.5%; operating income
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 million and 31.5% of net sales; net income of $289.9 million; and EPS of $0.53 per diluted share. Our guidance provided on May 6, 2024 was for Non-GAAP EPS of $0.48 to $0.56 per diluted share.Re
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 its dividend 82 times since its inception. "Microchip's financial performance in the June 2024 quarter met our expectations as customers continued to carefully manage their inventory level
For the quarter ended March 31, 2024 Net sales of $1.326 billion, down 24.9% sequentially and down 40.6% from the year ago quarter. Our guidance provided on February 1, 2024 was for net sales to be down 25% sequentially.On a GAAP basis: gross profit of 59.6%; operating income of $253.5 million and 19.1% of net sales; net income of $154.7 million; and EPS of $0.28 per diluted share. Our guidance provided on February 1, 2024 was for GAAP EPS of $0.13 to $0.32 per diluted share. On a Non-GAAP basis: gross profit of 60.3%; operating income of $436.0 million and 32.9% of net sales; net income of $310.3 million and EPS of $0.57 per diluted share. Our guidance provided on February 1, 2024 was fo
CHANDLER, Ariz., May 06, 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 45.2 cents per share. The dividend is payable on June 5, 2024, to stockholders of record on May 22, 2024. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 81 times since its inception. "Microchip's financial performance in the March 2024 quarter met our expectations as customers continued to carefully manage their inventory levels in r
CHANDLER, Ariz., April 15, 2024 (GLOBE NEWSWIRE) -- Microchip Technology (NASDAQ:MCHP) has acquired Neuronix AI Labs to expand its capabilities for power-efficient, AI-enabled edge solutions deployed on field programmable gate arrays (FPGAs). Neuronix AI Labs provides neural network sparsity optimization technology that enables a reduction in power, size and calculations for tasks such as image classification, object detection and semantic segmentation, while maintaining high accuracy. Microchip's mid-range PolarFire® FPGAs and SoCs already lead the industry in terms of low power consumption, reliability and security capabilities. The acquisition of this technology will enable Microchip t
Net sales of $1.766 billion, down 21.7% sequentially and down 18.6% from the year ago quarter. Our preliminary net sales results provided on January 8, 2024 was for net sales to be down 22% sequentially.On a GAAP basis: gross profit of 63.4%; operating income of $529.4 million and 30.0% of net sales; net income of $419.2 million; and EPS of $0.77 per diluted share. Our guidance provided on November 2, 2023 was for GAAP EPS of $0.68 to $0.76 per diluted share. On a Non-GAAP basis: gross profit of 63.8%; operating income of $728.1 million and 41.2% of net sales; net income of $592.7 million and EPS of $1.08 per diluted share. Our guidance provided on November 2, 2023 was for Non-GAAP EPS of $1
CHANDLER, Ariz., Feb. 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 45.0 cents per share. The dividend is payable on March 8, 2024, to stockholders of record on February 23, 2024. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 80 times since its inception. "Microchip's financial performance in the December 2023 quarter fell short of our guidance, however, cash generation remained strong and we cont
CHANDLER, Ariz., Jan. 08, 2024 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) - Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today provided preliminary revenue results for the three months ended December 31, 2023. "Today, based on preliminary financial information, we are providing our expected revenue for the fiscal third quarter ended December 31, 2023. The weakening economic environment that our customers and distributors faced during the December 2023 quarter resulted in many of them wanting to receive a lower level of shipments as they took actions to further de-risk their inventory positions," said Ganesh Moorthy, President and
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 Board. "On behalf of the entire Board, we thank Ganesh for his service to Microchip over the past 23 years and we wish him well with his retirement. He has been a key member of our mana
CHANDLER, Ariz., Nov. 14, 2024 (GLOBE NEWSWIRE) -- To enable developers building artificial intelligence (AI)-driven sensor processing systems, Microchip Technology (NASDAQ:MCHP) has released its PolarFire® FPGA Ethernet Sensor Bridge that works with the NVIDIA Holoscan sensor processing platform. PolarFire FPGAs enable multi-protocol support, and this first solution to be released as part of Microchip's platform is compatible with MIPI® CSI-2®-based sensors and the MIPI D-PHY℠ physical layer. Future solutions will support a wide range of sensors with different interfaces, including SLVS-EC™ 2.0, 12G SDI, CoaXPress® 2.0 and JESD204B. The platform allows designers to leverage the power of
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 sizes, this new portfolio is designed to meet high-growth market segments such as sustainability, E-Mobility and data centers. These high-performance IGBT 7 devices are key buildi
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 its dividend 83 times since then. About Microchip: Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use deve
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; and EPS of $0.14 per diluted share. Our guidance provided on August 1, 2024 was for GAAP EPS of $0.10 to $0.14 per diluted share. On a Non-GAAP basis: gross profit of 59.5%; operating income
CHANDLER, Ariz., Oct. 21, 2024 (GLOBE NEWSWIRE) -- The global edge computing market is expected to grow by more than 30 percent in the next five years, serving mission-critical applications in the aerospace, defense, military, industrial and medical sectors. To meet this increasing demand for reliable, embedded solutions for mixed-criticality systems, Microchip Technology (NASDAQ:MCHP) has announced the PIC64HX family of microprocessors (MPUs). Unlike traditional MPUs, the PIC64HX is purpose built to address the unique demands of intelligent edge designs. The latest in Microchip's 64-bit portfolio, the PIC64HX is a high-performance, multicore 64-bit RISC-V® MPU capable of advanced A
CHANDLER, Ariz., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Satisfying mission assurance requirements for the most critical space programs, Microchip Technology's (NASDAQ:MCHP) Radiation-Tolerant (RT) RTG4™ Field- Programmable Gate Arrays (FPGAs) with lead-free flip-chip bumps have earned the Qualified Manufacturers List (QML) Class V status. As designated by the Defense Logistics Agency (DLA), QML Class V is the highest level of qualification for space components and a necessary step to satisfy mission assurance requirements on the most critical space missions such as human-rated, deep space and national security programs. Because QML qualifications are standardized based on specific performance a
PARADISE VALLEY, Ariz., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Steve Sanghi, retired CEO and chair of the board of directors of Microchip Technology, today announces the release of his third book, "Ask Steve: Everyday business advice from a successful CEO." Sanghi offers practical and real-world business advice based on his highly regarded leadership style and overall business acumen. Building on the success of his previous books, "Ask Steve: Everyday business advice from a successful CEO," is an extension of the popular business advice column that ran in the Arizona Republic from 2007 to 2014. In the column, Sanghi responded to business inquiries from individuals at various career levels, off
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:MCHP) has added 20 products to its Wi-Fi® portfolio. Expanding one of the industry's most extensive wireless connectivity product lines, Microchip offers high-performance Wi-Fi microcon
CHANDLER, Ariz., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Driven by the need for higher bandwidth, advanced features, enhanced security and standardization, automotive OEMs are transitioning to Ethernet solutions. Automotive Ethernet provides the necessary infrastructure to support Software-Defined Networking by centralizing control, enabling flexible configurations and real-time data transfer. To provide OEMs with comprehensive Ethernet solutions, Microchip Technology (NASDAQ:MCHP) today announces its new family of LAN969x Multi-Gigabit Ethernet Switches and VelocityDRIVE™ Software Platform (SP), which is a turnkey Ethernet switch software solution and Configuration Tool (CT) based on standardiz
CHANDLER, Ariz., June 03, 2024 (GLOBE NEWSWIRE) -- Critical infrastructure communication networks require highly accurate and resilient synchronization and timing, but over time these systems age out and must be migrated to a more modern architecture. Microchip Technology (NASDAQ:MCHP) today announces the new TimeProvider® XT Extension System, a fan-out shelf used with redundant TimeProvider 4100 grandmasters to migrate legacy BITS/SSU equipment to a modular and resilient architecture. The TimeProvider XT provides operators with a clear path to replace existing SONET/SDH frequency synchronization equipment while adding timing and phase, essential for 5G networks. As an accessory device to
Cohu, Inc. (NASDAQ:COHU), a global leader in equipment and services optimizing semiconductor manufacturing yield and productivity, today announced that Karen M. Rapp has been appointed to the Cohu Board of Directors, effective today. Ms. Rapp brings to Cohu's Board of Directors extensive experience in corporate development, financial management, information technology and public company governance. After serving for six years as Executive Vice President and Chief Financial Officer, Ms. Rapp retired in May 2023 from National Instruments Corp., a leading test and measurement instrument and software company. Previously, she was Senior Vice President of Corporate Development at NXP Semiconduc
CHANDLER, Ariz., April 11, 2024 (GLOBE NEWSWIRE) -- Microchip Technology Inc. (NASDAQ:MCHP) today announces the completed acquisition of Seoul, Korea-based VSI Co. Ltd., an industry pioneer in providing high-speed, asymmetric, camera, sensor and display connectivity technologies and products based on the Automotive SerDes Alliance (ASA) open standard for in-vehicle networking (IVN). The terms of the transaction are not disclosed. The market size of automotive radar, camera and LiDAR modules is expected to grow by greater than two times between 2022 to 2028 to $27B in revenue, according to Yole Group1. This anticipated growth is driven by the increased adoption of Advanced Driver Assistan
CHANDLER, Ariz., April 02, 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 has appointed Rich Simoncic as Chief Operating Officer effective today. In this position, Mr. Simoncic will report to Ganesh Moorthy, who will remain President and CEO. Rich Simoncic joined Microchip as a new college graduate in 1989 and has had progressively increasing product development, operational and business unit responsibilities. He founded the analog business at Microchip in 1998 and has been instrumental in building it to a more than $2 billion annual reve
CHANDLER, Ariz., Feb. 14, 2024 (GLOBE NEWSWIRE) -- The operators of critical infrastructure market segments such as 5G telecommunications, power utilities and transportation need to continuously upgrade their networks with technology capable of delivering higher processing speeds and highly accurate time sources that are not dependent on the Global Navigation Satellite System (GNSS) constellations like GPS, GALILEO and QZSS. To provide network operators a terrestrial alternative for distributing very accurate time, Microchip Technology (NASDAQ:MCHP) today announces the new TimeProvider® 4500 grandmaster, a hardware timekeeping platform that provides high-speed network interfaces up to 25 G
CHANDLER, Ariz., Oct. 10, 2023 (GLOBE NEWSWIRE) -- Industrial and consumer application designers must consider implementing security functionality in their devices during the development process as security threats evolve and become more sophisticated. To allow designers to easily integrate security into their applications, Microchip Technology (NASDAQ:MCHP) today announces a new family of PIC32CZ CA 32-bit microcontrollers with a 300 MHz Arm Cortex-M7 processor, an integrated Hardware Security Module (HSM), and a wide range of connectivity and Flash memory options for added flexibility. The new family of PIC32CZ CA devices includes the PIC32CZ CA90 with a HSM or the PIC32CZ CA80 without
Microchip Technology (NASDAQ:MCHP) has outperformed the market over the past 20 years by 1.12% on an annualized basis producing an average annual return of 9.37%. Currently, Microchip Technology has a market capitalization of $48.04 billion. Buying $1000 In MCHP: If an investor had bought $1000 of MCHP stock 20 years ago, it would be worth $6,042.80 today based on a price of $89.55 for MCHP at the time of writing. Microchip Technology's Performance Over Last 20 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzi
Cantor Fitzgerald analyst C J Muse reiterated NXP Semiconductors (NASDAQ:NXPI) with an Overweight and a $350 price target. On Monday, NXP Semiconductors reported second-quarter revenue decreased 5% year-over-year to $3.127 billion, beating analyst consensus estimates of $3.125 billion. The company reported adjusted EPS of $3.20, lagging the analyst consensus estimates of $3.21. NXP Semiconductors expects third-quarter revenue of $3.15 billion—$3.35 billion, compared to consensus estimates of $3.35 billion. The company projects third-quarter adjusted EPS of $3.21 – $3.63, compared to analyst estimates of $3.56. Muse acknowledged the company’s worse-than-expected in-line second-quarte
Chip stocks led by Nvidia Corp (NASDAQ:NVDA) and Advanced Micro Devices, Inc (NASDAQ:AMD) are trading lower Wednesday as the U.S. intensified semiconductor sanctions against China, followed by Presidential candidate Donald Trump’s attack against crucial contract chipmaker Taiwan Semiconductor Manufacturing Company (NYSE:TSM). The Biden administration is contemplating using the Foreign Direct Product Rule (FDPR), which allows it to impose controls on foreign-made products that incorporate even minimal amounts of American technology, Bloomberg reports. The U.S. has presented this possibility to officials in Tokyo and The Hague. Also Read: Nvidia’s Growth Soars Despite French Investiga
Susquehanna analyst Christopher Rolland maintains Microchip Technology (NASDAQ:MCHP) with a Positive and raises the price target from $105 to $115.
In the fiercely competitive semiconductor industry, Nvidia Corp often captures the spotlight with its groundbreaking AI advancements. However, the industry’s next major winners might not be the usual suspects. Enter JPMorgan analyst Harlan Sur, who's set to shine a spotlight on five semiconductor titans poised for explosive growth in the second half of 2024. Analyst Sees 30-40% EPS Upwards Revisions Over Quarters Ahead JPMorgan’s top semiconductor picks, according to Sur, include Broadcom Inc (NASDAQ:AVGO), Marvell Technology Inc (NASDAQ:MRVL), Micron Technology Inc (NASDAQ:MU), Analog Devices Inc (NASDAQ:ADI), and Microchip Technology Inc (NASDAQ:MCHP). These companies are riding t
18 analysts have shared their evaluations of Microchip Technology (NASDAQ:MCHP) during the recent three months, expressing a mix of bullish and bearish perspectives. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 10 3 5 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 3 0 0 0 0 3M Ago 7 3 4 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $101.78, a high estimate of $115.00, and a low estimate of $85.00. Surpassing
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Morgan Stanley cut the price target for Microchip Technology Incorporated (NASDAQ:MCHP) from $102 to $100. Morgan Stanley analyst Joseph Moore downgraded the stock from Overweight to Equal-Weight. Microchip Technology shares rose 3.9% to close at $95.98 on Wednesday. See how other analysts view this stock. Truist Securities lifted the price target for Astrana Health, Inc. (NASDAQ:ASTH) from $44 to $50. Truist Securities analyst Jailendra Singh upgraded the stock from Hold to Buy. Astrana Health sha
Morgan Stanley analyst Joseph Moore downgrades Microchip Technology (NASDAQ:MCHP) from Overweight to Equal-Weight and lowers the price target from $102 to $100.
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TD Cowen reiterated coverage of Microchip with a rating of Hold and set a new price target of $70.00 from $80.00 previously
Truist downgraded Microchip from Buy to Hold and set a new price target of $80.00 from $89.00 previously
Piper Sandler upgraded Microchip from Neutral to Overweight and set a new price target of $100.00 from $90.00 previously
TD Cowen reiterated coverage of Microchip with a rating of Hold and set a new price target of $80.00 from $90.00 previously
BofA Securities downgraded Microchip from Buy to Neutral and set a new price target of $90.00 from $110.00 previously
Morgan Stanley downgraded Microchip from Overweight to Equal-Weight and set a new price target of $100.00 from $102.00 previously
Mizuho upgraded Microchip from Neutral to Buy and set a new price target of $115.00 from $85.00 previously
Jefferies initiated coverage of Microchip with a rating of Buy and set a new price target of $115.00 from $100.00 previously
TD Cowen reiterated coverage of Microchip with a rating of Hold and set a new price target of $90.00 from $80.00 previously
Evercore ISI initiated coverage of Microchip with a rating of Outperform and set a new price target of $106.00