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Microchip Earnings Surpass Estimates in Q2, Sales Decrease Y/Y [Yahoo! Finance]
Last microchip technology incorporated earnings: 2/4 04:10 pm
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US:NASDAQ Investor Relations: microchip.com/investors
Net sales of $1.164 billion decreased 48.4% year over year, which surpassed the Zacks Consensus Estimate by 1.09%. The decline in sales was due to ongoing customer destocking and weak demand across end markets, particularly in the consumer and automotive sectors, with a sequential drop of nearly 22%. Following the results, Microchip shares were almost unchanged in the pre-market trading. MCHP shares have declined 20.2% against the Zacks Computer and Technology sector's rise of 23.4% in the year-to-date period. Microchip Technology Incorporated price-consensus-eps-surprise-chart | Microchip Technology Incorporated Quote Mixed-signal Microcontroller, Analog and Other accounted for 51.1%, 25.1% and 23.8% of net sales, respectively. Semiconductor Products and Technology Licensing contributed 96.7% and 3.3% to net sales. Sales from the Americas, Europe and Asia contributed 31.8%, 18.3% and 49.9% to net sales, respectively. The non-GAAP gross margin contracted 850 basis point
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NEWS
- Introducing a Wide Portfolio of IGBT 7 Power Devices Optimized for Applications Across Sustainability, E-Mobility and Data Centers[GlobeNewswire]
- Microchip Technology (NASDAQ:MCHP) Has Announced That It Will Be Increasing Its Dividend To $0.455 [Yahoo! Finance][Yahoo! Finance]
- Earnings Beat: Microchip Technology Incorporated Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models [Yahoo! Finance][Yahoo! Finance]
- Microchip Technology Incorporated (NASDAQ: MCHP) had its price target lowered by analysts at Jefferies Financial Group Inc. from $100.00 to $90.00. They now have a "buy" rating on the stock.[MarketBeat]
- Microchip Technology Incorporated (NASDAQ: MCHP) had its price target lowered by analysts at Citigroup Inc. from $92.00 to $82.00. They now have a "buy" rating on the stock.[MarketBeat]
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MCHP
SEC Filings
SEC Filings
- 11/12/24 - Form 8-K
- 11/5/24 - Form S-8
- 11/5/24 - Form 10-Q
- MCHP's page on the SEC website
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