Microchip Technology Incorporated (MCHP) Stock

CHANDLER, Ariz., Nov. 18, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a top provider of smart and secure embedded control solutions, has announced that Ganesh Moorthy will retire as CEO, President, and Board member due to his upcoming 65th birthday at the end of November. The Board has named Steve Sanghi as the interim CEO and President starting today. Mr. Sanghi will continue to serve as the Chair of the Board.

MCHP has introduced its IGBT 7 power devices, which are intended for use in sustainable applications, electric mobility, and data centers.

Microchip's IGBT 7 range offers various topologies along with different current and voltage options. This allows for flexibility in applications. You can choose from a wide selection to meet your specific needs.

Microchip Technology Incorporated (MCHP) announced positive earnings for its second quarter on Tuesday.

Microchip's financial results for the second quarter of fiscal 2025 show a large decrease in revenue, along with reduced forecasts and difficulties in demand in important markets.

The financial results for Microchip Tech (MCHP) from the quarter ending in September 2024 provide insight into the company's performance. It may also be helpful to compare some important metrics with Wall Street predictions and figures from the same period last year.

Microchip Technology (MCHP) reported quarterly earnings of $0.46 per share, which is higher than the Zacks Consensus Estimate of $0.43 per share. In comparison, the company earned $1.62 per share during the same period last year.

On Tuesday, Microchip Technology predicted that its revenue and profit for the third quarter would be lower than expected, suggesting weak demand from automotive clients due to economic uncertainty. As a result, the company's shares fell by around 4% in after-hours trading.

CHANDLER, Ariz., Nov. 05, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a top provider of smart and secure embedded control solutions, has announced a quarterly cash dividend of 45.5 cents per share on its common stock. This dividend will be paid on December 6, 2024, to shareholders who are on record as of November 22, 2024. Since starting quarterly cash dividends in the third quarter of fiscal year 2003, Microchip has raised its dividend 83 times.