Edition:
United States

Microchip Technology Inc (MCHP.OQ)

MCHP.OQ on NASDAQ Stock Exchange Global Select Market

73.15USD
24 Mar 2017
Change (% chg)

$0.40 (+0.55%)
Prev Close
$72.75
Open
$73.59
Day's High
$74.11
Day's Low
$72.96
Volume
674,186
Avg. Vol
888,850
52-wk High
$76.50
52-wk Low
$46.98

Latest Key Developments (Source: Significant Developments)

Microchip Technology updates guidance for net sales
Tuesday, 28 Feb 2017 04:15pm EST 

Microchip Technology Inc : Microchip Technology -narrowed range of its prior guidance for net sales and non-gaap earnings per share for fiscal Q4 of 2017 ending March 31, 2017 . Microchip Technology updates guidance for net sales and non-gaap EPS for fourth quarter of fiscal 2017 . Microchip Technology Inc- now expects consolidated net sales to be down 0.5% to up 2.5% with a mid-point unchanged at 1% for fiscal Q4 of 2017 .Microchip Technology Inc- Microchip is not able to provide gaap earnings per share guidance at this time.  Full Article

Microchip announces pricing of $1.8 bln of 1.625% convertible senior subordinated notes
Friday, 10 Feb 2017 08:55am EST 

Microchip Technology Inc : Microchip technology incorporated announces pricing of $1.8 billion of 1.625% convertible senior subordinated notes and $500 million of 2.250% convertible junior subordinated notes . Microchip technology inc says size of offering was increased from previously announced $2.0 billion in aggregate principal amount . Microchip technology inc - pricing of $1.8 billion aggregate principal amount of convertible senior subordinated notes due 2027 . Microchip technology inc says pricing of $500 million aggregate principal amount of convertible junior subordinated notes due 2037 .Microchip technology inc -2027 notes will bear interest at a rate of 1.625% per year and 2037 notes will bear interest at a rate of 2.250% per year.  Full Article

Microchip Technology incorporated announces proposed $2 billion offering of convertible notes
Wednesday, 8 Feb 2017 04:02pm EST 

Microchip Technology Inc : Microchip Technology incorporated announces proposed $2 billion offering of convertible notes . Microchip Technology Inc says intention to offer $1.5 billion aggregate principal amount of convertible senior subordinated notes due 2027 . To offer $500 million aggregate principal amount of convertible junior subordinated notes due 2037 .Microchip Technology - intends to use approximately $1.5 billion of net proceeds from this offering to reduce borrowings under its amended credit facility.  Full Article

Microchip Technology Sees Q4 non-GAAP earnings per share $1.01 to $1.11
Tuesday, 7 Feb 2017 04:15pm EST 

Microchip Technology Inc : Microchip Technology announces outstanding financial results for third quarter fiscal year 2017 . Q3 non-GAAP earnings per share $1.05 from continuing operations . Q3 GAAP earnings per share $0.46 from continuing operations . Q3 earnings per share view $0.86 -- Thomson Reuters I/B/E/S . Sees q4 2017 sales $872 million to $908 million . Q3 non-GAAP earnings per share $0.145 . Microchip Technology Inc - GAAP net sales for q3 of fiscal 2017 were $834.4 million, up 54.4% . Microchip Technology Inc - non-GAAP net sales for q3 of fiscal 2017 were $881.2 million, up 59.6% . Microchip Technology - revising long-term operating model upwards to 60% non-gaap gross margin, 36% non-gaap operating profit . Microchip Technology Inc - capital expenditures for all of fiscal year 2017 are expected to be approximately $90 million. . Sees Q4 earnings per share 71 to 81 cents . Sees Q4 non-GAAP earnings per share $1.01 to $1.11 .Q4 earnings per share view $0.93, revenue view $861.7 million -- Thomson Reuters I/B/E/S.  Full Article

Microchip Technology to sell mobile touch assets to Solomon Systech
Tuesday, 1 Nov 2016 09:00am EDT 

Microchip Technology Inc : Microchip Technology announces sale of mobile touch assets to Solomon Systech Limited . Transaction should have no impact on co's continuing operations .Also agreed to provide certain transition services to Solomon Systech.  Full Article

Microchip updates guidance for non-GAAP net sales and EPS for Q2 of fiscal 2017
Tuesday, 6 Sep 2016 04:15pm EDT 

Microchip Technology : Sees Q2 non-GAAP net sales up 1 percent to 3 percent with mid-point unchanged at 2 percent and non-GAAP EPS 85 cents to 89 cents per share . Q2 earnings per share view $0.86, revenue view $861.0 million -- Thomson Reuters I/B/E/S . Previously provided guidance for Q2 consolidated non-GAAP net sales to be flat to up 4 percent with a mid-point of up 2 percent . Original Q2 guidance for non-GAAP earning per share was between 83 cents and 91 cents per share . Due to Microchip's recent acquisition of Atmel and related purchase accounting, Microchip is not able to provide GAAP guidance at this time. .Micrel's 6-inch fab in San Jose is on schedule to close in October 2016.  Full Article

Microchip Technology reports Q1 non-GAAP EPS $0.095
Monday, 8 Aug 2016 04:30pm EDT 

Microchip Technology Inc : Microchip technology announces record financial results for first quarter fiscal year 2017 . Q1 GAAP loss per share $0.51 from continuing operations . Q1 non-GAAP earnings per share $0.095 . Q1 non-GAAP earnings per share $0.84 from continuing operations . Q1 earnings per share view $0.74 -- Thomson Reuters I/B/E/S . Says increasing accretion target from Atmel from 25 cents to 40 cents for fiscal 2017 . Says expects total net sales in September 2016 quarter including Atmel to be flat to up 4 pct sequentially . Says expects gross margin in September 2016 quarter to be between 55.6 pct and 56.2 pct . Expects operating income from continuing operations in September 2016 quarter to be between 27.7 pct and 29 pct of net sales .Q2 earnings per share view $0.80, revenue view $836.7 million -- Thomson Reuters I/B/E/S.  Full Article

Microchip Technology says CEO Steve Sanghi's fy 2016 total compensation $10.8 mln
Monday, 11 Jul 2016 01:18pm EDT 

Microchip Technology Inc : Microchip Technology Inc Says Ceo Steve Sanghi's Fy 2016 Total Compensation $10.8 Mln Vs $5.5 Mln In Fy 2015 - Sec filing .Microchip technology inc says president and coo ganesh moorthy's fy 2016 total compensation $4.2 million versus $2.0 million in fy 2015.  Full Article

Microchip Technology appoints ganesh moorthy to president and chief operating officer
Wednesday, 3 Feb 2016 04:15pm EST 

Microchip Technology Inc:Appoints Ganesh Moorthy to President and Chief Operating Officer.Says Moorthy will report to steve sanghi who will remain as chairman of the board and chief executive officer.  Full Article

Microchip Technology Inc to acquire Atmel Corp
Tuesday, 19 Jan 2016 04:42pm EST 

Microchip Technology Inc and Atmel Corp:Microchip Technology Inc to acquire Atmel.Deal for total enterprise value of about $3.40 billion.Says estimated $170 million in synergies in fiscal year 2019 that begins on April 1, 2018.Acquisition price represents a total equity value of about $3.56 billion.Says deal immediately accretive to non-GAAP earnings per share.Says transaction has been approved by the board of directors of each company.Board authorized an increase in the existing share repurchase program to 15.0 million shares of common stock.Says no approval by microchip's stockholders is required in connection with the transaction.Deal for $8.15 per share in a combination of cash and Microchip common stock.In the transaction, stockholders of Atmel will receive $7.00 per share in cash and $1.15 per share in Microchip common stock.In connection with termination of merger agreement with Dialog, Atmel has paid Dialog termination fee of $137.3 million.To fund cash portion of purchase price through combination of cash on its balance sheet,borrowings under existing credit facility.Atmel stockholders will receive a much higher cash consideration per share compared to the Dialog deal".Says In next several months, Microchip intends to repurchase the approximate number of shares it issues in the Atmel acquisition.  Full Article

More From Around the Web

BRIEF-Microchip announces pricing of $1.8 bln of 1.625% convertible senior subordinated notes

* Microchip technology incorporated announces pricing of $1.8 billion of 1.625% convertible senior subordinated notes and $500 million of 2.250% convertible junior subordinated notes