TD Cowen reiterated coverage of Microchip with a rating of Hold and set a new price target of $60.00 from $50.00 previously

B. Riley Securities reiterated coverage of Microchip with a rating of Buy and set a new price target of $85.00 from $93.00 previously

BofA Securities downgraded Microchip from Neutral to Underperform and set a new price target of $65.00 from $80.00 previously

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

CHANDLER, Ariz., March 11, 2025 (GLOBE NEWSWIRE) -- To address the increasing demand for high-performance, math-intensive applications in a wide range of industries, Microchip Technology (NASDAQ:MCHP) has released the PIC32A family of MCUs. Enhancing the company's already robust 32-bit MCU portfolio, PIC32A MCUs are designed to be cost-efficient, high-performance solutions for general-purpose applications across automotive, industrial, consumer, Artificial Intelligence/Machine Learning (AI/ML) and medical markets. Designed to significantly reduce the need for external components, the 200 MHz 32-bit PIC32A family features integrated high-speed analog peripherals, up to 40 Msps 12-bit ADCs,

CHANDLER, Ariz., March 05, 2025 (GLOBE NEWSWIRE) -- To make its robust programming and debugging capabilities accessible to a wider range of engineers, Microchip Technology (NASDAQ:MCHP) has launched the MPLAB® PICkit™ Basic in-circuit debugger to be a cost-effective, powerful solution for engineers at various levels. Unlike other complex and expensive debuggers, this budget-friendly device offers high-speed USB 2.0 connectivity, CMSIS-DAP support, compatibility with various Integrated Development Environments (IDEs) and compatibility with a broad range of microcontrollers. The tool's versatility allows developers to use the debugger across various projects and platforms—including VS Code

CHANDLER, Ariz., March 03, 2025 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that the Company will present at the Raymond James 46ᵗʰ Annual Investors Conference on Wednesday, March 5, 2025 at 9:50 a.m. (Eastern Time). Presenting for the Company will be Mr. Eric Bjornholt, Senior Vice President and Chief Financial Officer, and Mr. Sajid Daudi, Head of Investor Relations. A live webcast of the presentation will be made available by Raymond James, and can be accessed on the Microchip website at www.microchip.com. Any forward looking statements made during the presentation

CHANDLER, Ariz., March 03, 2025 (GLOBE NEWSWIRE) -- Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that the Company will present at the Raymond James 46th Annual Investors Conference on Wednesday, March 6, 2025 at 9:50 a.m. (Eastern Time). Presenting for the Company will be Mr. Eric Bjornholt, Senior Vice President and Chief Financial Officer, and Mr. Sajid Daudi, Head of Investor Relations. A live webcast of the presentation will be made available by Raymond James, and can be accessed on the Microchip website at www.microchip.com. Any forward looking statements made during the presentation are qualified in

CHANDLER, Ariz., Feb. 26, 2025 (GLOBE NEWSWIRE) -- Embedded developers must address the challenge of designing systems that achieve a balance between compactness, energy efficiency and high performance. As applications grow more sophisticated with demands for advanced graphics and connectivity, offering multiple solutions ranging from SoCs to SiPs and SOMs simplifies and accelerates development timelines. Microchip Technology (NASDAQ:MCHP) today announces its portfolio of SAMA7D65 MPUs based on the Arm® Cortex®-A7 core running up to 1 GHz and offered in a System-in-Package (SiP) with a 2 Gb DDR3L and System-on-Chip (SoC). The SAMA7D65 MPU series is designed to target Human-Machine Interfac

CHANDLER, Ariz., Feb. 24, 2025 (GLOBE NEWSWIRE) -- Offering an efficient way to manage multiple licenses, Microchip Technology (NASDAQ:MCHP) has launched MPLAB® XC Unified Compiler Licenses for its MPLAB XC8, XC16, XC-DSC and XC32 C compilers. This unified approach addresses the financial strain and administrative burden of purchasing and managing separate software access models for each compiler. Microchip's solution consolidates the necessary licenses to reduce overhead and provide greater flexibility, scalability and ease of use. The unified system is designed to accommodate evolving development needs, offering multiple tiers to suit growing teams. The Workstation License can be instal

CHANDLER, Ariz., Feb. 20, 2025 (GLOBE NEWSWIRE) -- Automakers are revolutionizing the driving experience with innovative smart cockpit designs that feature large displays and emerging technologies like Organic Light Emitting Diodes (OLEDs) and microLEDs, seamlessly blending functionality with brand identity. However, these advancements pose significant challenges for the integration of capacitive touch sensing, especially with the thinner stack-up and an increasing number of touch electrodes. To address these challenges, Microchip Technology (NASDAQ:MCHP) has launched the ATMXT3072M1 and ATMXT2496M1 touchscreen controller families to help provide automotive HMI designers with reliable touc

CHANDLER, Ariz., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Microchip Technology (NASDAQ:MCHP) is leveraging the power of Artificial Intelligence (AI) to assist software developers and embedded engineers in writing and debugging code with the launch of its MPLAB® AI Coding Assistant. A Microsoft® Visual Studio® Code (VS Code®) extension, the free tool is based on Continue—the market's leading open-source AI code assistant—and comes preconfigured with Microchip's AI chatbot for real-time support. The Microchip chatbot enables a chat functionality which allows developers to evaluate and iterate on code directly from the sidebar. This interactive support enhances the coding experience by providing

Net sales of $1.026 billion, down 11.8% sequentially and down 41.9% from the year ago quarter. Our updated guidance provided on December 2, 2024 was net sales of $1.025 billion.On a GAAP basis: gross profit of 54.7%; operating income of $30.9 million and 3.0% of net sales; net loss of $53.6 million; and loss of $0.10 per diluted share. Our guidance provided on November 5, 2024 was for GAAP earnings (loss) per share of $(0.04) to $0.03 per diluted share. On a Non-GAAP basis: gross profit of 55.4%; operating income of $210.7 million and 20.5% of net sales; net income of $107.3 million; and EPS of $0.20 per diluted share. Our updated guidance provided on December 2, 2024 was for No

CHANDLER, Ariz., Feb. 06, 2025 (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 March 7, 2025, to stockholders of record on February 24, 2025. 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 develop

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8-K - MICROCHIP TECHNOLOGY INC (0000827054) (Filer)

CHANDLER, Ariz., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today announced that Victor Peng, former President of Advanced Micro Devices, Inc. (AMD), will join the Board of Directors of Microchip effective February10, 2024. Regarding Mr. Peng's appointment to the board, Microchip's President and CEO, Steve Sanghi, said, "Victor most recently served as the President of AMD, a publicly held company that designs and manufactures hardware for high-performance computing. Prior to that, he served Xilinx for 14 years, most recently holding roles of president, CEO, board member. With over 40

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

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Net sales of $1.026 billion, down 11.8% sequentially and down 41.9% from the year ago quarter. Our updated guidance provided on December 2, 2024 was net sales of $1.025 billion.On a GAAP basis: gross profit of 54.7%; operating income of $30.9 million and 3.0% of net sales; net loss of $53.6 million; and loss of $0.10 per diluted share. Our guidance provided on November 5, 2024 was for GAAP earnings (loss) per share of $(0.04) to $0.03 per diluted share. On a Non-GAAP basis: gross profit of 55.4%; operating income of $210.7 million and 20.5% of net sales; net income of $107.3 million; and EPS of $0.20 per diluted share. Our updated guidance provided on December 2, 2024 was for No

CHANDLER, Ariz., Feb. 06, 2025 (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 March 7, 2025, to stockholders of record on February 24, 2025. 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 develop

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