CHANDLER, Ariz., Jan. 16, 2024 (GLOBE NEWSWIRE) -- The growth of the industrial automation market encompasses innovative technologies like Machine Learning (ML) and robotic systems. Embedded solutions with deterministic communication are essential for industrial automation applications to control, monitor and process data. To provide designers with a reliable and robust network solution with deterministic communication, Microchip Technology (NASDAQ:MCHP) today announces its next-generation of LAN969x Ethern ...

Microchip Technology (MCHP) closed the latest trading day at $85.44, indicating a +0.12% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.57%. On the other hand, the Dow registered a gain of 0.46%, and the technology-centric Nasdaq increased by 0.75%.Shares of the chipmaker have depreciated by 4.36% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.51% and the S&P 500's gain of 3.4%.Investors will be eage ...

Key TakeawaysMicrochip Technology shares dropped in early trading Tuesday after the company lowered its outlook, citing weak demand due to economic conditions.However, shares rebounded later in the session as Jefferies analysts raised their price target on the stock and said it could benefit from an "Analog Renaissance."Microchip Technology is set to report its latest quarterly earnings results on Feb. 1.Microchip Technology (MCHP) shares rebounded from early losses Tuesday as Jefferies analysts raised thei ...

Microchip (MCHP) reported disappointing third-quarter fiscal 2024 preliminary results, with revenues now estimated to decline 22% sequentially compared with the previous guidance range of 15-20% decline.Microchip cited lower shipments, primarily due to a weakening economic environment. It has been suffering from a slowdown in business across most end markets due to a challenging macroeconomic environment and heightened inventory levels with end customers.Microchip had projected net sales between $1.803 bill ...

Shares of computer components developer Microchip Technology Inc. MCHP, +1.96% fell after hours on Monday after the company said it expected fiscal third-quarter sales to fall more than it once expected, citing a “weakening economic environment.” The company — whose products help power things like data centers, connected devices and cars — said it expected sales for that quarter to fall 22% from the prior quarter, compared to earlier expectations for a 15% to 20% drop. Shares fell 4.3% after hours. “The we ...

CHANDLER, Ariz., Jan. 08, 2024 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) - Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today provided preliminary revenue results for the three months ended December 31, 2023. "Today, based on preliminary financial information, we are providing our expected revenue for the fiscal third quarter ended December 31, 2023. The weakening economic environment that our customers and distributors faced during the December 2 ...

CHANDLER, Ariz., Jan. 08, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) - Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today provided preliminary revenue results for the three months ended December 31, 2023. "Today, based on preliminary financial information, we are providing our expected revenue for the fiscal third quarter ended December 31, 2023. The weakening economic environment that our customers and distributors faced during the December ...

Microchip Technology (MCHP) closed at $83.40 in the latest trading session, marking a -1.38% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.34%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq lost 0.56%.Shares of the chipmaker have appreciated by 1.14% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 2.56%.Analysts and investors alike will be keeping a close eye on the per ...

The Commerce Department said it would grant Microchip Technology Inc. $162 million in federal funding from the CHIPS Act to boost chip production.The CHIPS funding will be used to modernize and expand Microchip factories in Colorado and Oregon.The grant is expected to help Microchip triple production at its facilities in Colorado and Oregon, as well as reduce reliance on foreign production.In a bid to bolster U.S. supply chains for crucial components, the Commerce Department said Thursday it would grant Mic ...

About this content About Andrew Kessel Andrew is a financial journalist with experience covering public companies in a wide breadth of industries, including tech, medicine, cryptocurrency, mining and retail. In addition to Proactive, he has been published in a Financial Times-owned newsletter covering broker-dealer firms and in the Columbia Misourian newspaper as the lead reporter focused on higher education. He got his start with an internship at Rolling Stone magazine.  Read more About the publisher Pr ...