Microchip Technology IncorporatedNASDAQ: MCHP

Microchip (MCHP) transforms embedded design with MPLAB Extensions for VS Code, merging power and flexibility for seamless development experiences.

Microchip (MCHP) expands its JAN transistor portfolio, now qualified to MIL-STD ELDRS standards, enhancing reliability for aerospace and defense applications.

Microchip Tech (MCHP) reported earnings 30 days ago. What's next for the stock?

CHANDLER, Ariz., May 28, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced its intention to offer, subject to market conditions and other factors, $1.1 billion aggregate principal amount of Convertible Senior Notes due 2030 (the “notes”) in a private offering (the “offering”) only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Microchip also expects to grant the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date Microchip first issues the notes, up to an additional $150 million aggregate principal amount of the notes. The notes will be senior, unsecured obligations of Microchip, and interest will be payable semi-annually in arrears. Upon conversion, Microchip will pay cash up to the aggregate principal amount of the notes to be converted and pay or deliver, as the case may be, cash, shares of Microchip's common stock (“common stock”) or a combination of cash and shares of common stock, at Microchip's election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the notes being converted. The interest rate, conversion rate and other terms of the notes are to be determined upon pricing of the offering.

Microchip (MCHP) enhances critical infrastructure security and efficiency with the launch of TimeProvider 4100 Series version 2.4.

Adds IEEE® 1588 standard profiles to meet power and 5G private network synchronization requirements Adds IEEE® 1588 standard profiles to meet power and 5G private network synchronization requirements

Assess Microchip Tech's (MCHP) dependence on overseas sales to gain insight into the company's financial health, growth opportunities, and potential stock price movement.

The S&P 500 and Nasdaq have seen three consecutive days of gains, while the Dow has experienced four straight days of increases.

Microchip Technology predicted that its first-quarter net sales and profit would be lower than expected by Wall Street on Monday, indicating a decrease in demand as customers work to reduce excess inventory. This caused its shares to drop over 4% in after-hours trading.