Microchip Technology expects weak quarterly results on excess inventory impact [Yahoo! Finance]
Microchip Technology Incorporated (MCHP)
Last microchip technology incorporated earnings: 2/4 04:10 pm
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Source: Yahoo! Finance
continue to clear excess inventory, sending its shares down more than 4% in aftermarket trading. Slowing electric vehicle sales at a time when customers are clearing excess inventory have weighed heavily on demand for chips in the automotive industry, hitting chipmakers such as Microchip Technology amid an uncertain economic environment. Customers had built excess inventory to avoid a supply crunch during the pandemic. "We believe we are under shipping to end market demand, as customers and channel partners continued to reduce inventory. This situation has required us to implement ongoing austerity measures, including taking actions to reduce factory utilization, that will persist into the June quarter," CEO Ganesh Moorthy said in a statement. Moorthy said the June quarter marks the bottom of the cycle for the company and the business will return to revenue growth in the second quarter, ending September. In April, Israel-based Mobileye Global reported a sharp fall in first-q
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MCHP
News
- Microchip (MCHP) Boosts Aerospace Portfolio With New Launch [Yahoo! Finance]Yahoo! Finance
- Microchip Expands its Radiation-Tolerant Microcontroller Portfolio with the 32-bit SAMD21RT Arm® Cortex®-M0+ Based MCU for the Aerospace and Defense Market [Yahoo! Finance]Yahoo! Finance
- Microchip Expands its Radiation-Tolerant Microcontroller Portfolio with the 32-bit SAMD21RT Arm® Cortex®-M0+ Based MCU for the Aerospace and Defense MarketGlobeNewswire
- Preparing for Take-off: IDTechEx Discusses Unjammable Sat-Navs and the Quantum Sensor Revolution [Yahoo! Finance]Yahoo! Finance
- Microchip Tech (MCHP) Reliance on International Sales: What Investors Need to Know [Yahoo! Finance]Yahoo! Finance
MCHP
Earnings
- 5/6/24 - Beat
MCHP
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- MCHP's page on the SEC website