Microchip Technology is a leading provider of integrated circuits and semiconductor solutions, specializing in high-performance microcontrollers, analog products, and digital signal controllers
The company serves a diverse array of industries, including automotive, industrial, consumer, and communications, offering a wide range of products designed to enhance the performance and efficiency of electronic systems. Microchip Technology also focuses on developing innovative design tools and software that enable engineers to create advanced applications with ease, fostering the growth of the Internet of Things (IoT) and other emerging technologies. Through its commitment to quality and customer support, Microchip Technology aims to empower its clients to succeed in a rapidly evolving technological landscape.
Stay informed about the performance of the S&P500 index in the middle of the day on Monday. Uncover the top gainers and losers in today's session for valuable insights.
Microchip Technology plans restructuring to streamline operations and reduce costs. The company will cut 2,000 jobs, incurring $30-$40 million in restructuring expenses.
Top performing large-cap stocks in the last week: Unity, Super Micro Computer, Alibaba, FTAI Aviation, STMicroelectronics, XPeng, Analog Devices, BeiGene, Tencent Music, Microchip Technology.
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Stay informed about the performance of the S&P500 index in the middle of the day on Wednesday. Uncover the top gainers and losers in today's session for valuable insights.
Shares of analog chipmaker Microchip Technology (NASDAQMCHP)
fell 7% in the morning session after the company reported disappointing fourth-quarter results, with revenue declining 41.9% compared to the previous year, missing Wall Street expectations. Likewise, its revenue guidance for the next quarter fell short of Wall Street's estimates. Management attributed the decline to ongoing inventory destocking at customers and channel partners, stating, 'We believe the correction cycle is still not complete.' Overall, this was a weaker quarter, given the weak guidance.
Microchip’s weaker-than-expected guidance and elevated inventory levels have put pressure on the stock, despite strong retail investor interest on Stocktwits.
Wondering which stocks are making significant price gaps? Explore the S&P500 index on Friday to find the gap up and gap down stocks in today's session.
Analog chipmaker Microchip Technology (NASDAQMCHP) missed Wall Street’s revenue expectations in Q4 CY2024, with sales falling 41.9% year on year to $1.03 billion. Next quarter’s revenue guidance of $960 million underwhelmed, coming in 9.2% below analysts’ estimates. Its non-GAAP profit of $0.20 per share was 28.8% below analysts’ consensus estimates.
