Microchip (MCHP) stock down as guidance falls short; Q4 results in line

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Go back to Microchip (MCHP) stock down as guidance falls short; Q4 results in line

Microchip Technology Announces Financial Results For Fourth Quarter and Fiscal Year 2024

May 6, 2024 4:15 PM EDT

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... More

Microchip Technology Increases Quarterly Cash Dividend 18.0% Year-Over-Year to 45.2 Cents Per Share

May 6, 2024 4:15 PM EDT

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.

Microchips financial performance in the March 2024 quarter met our expectations as customers continued to carefully... More