Microchip Technology Reports Third Quarter Fiscal 2024 Financial Results

Details

The company's GAAP net income was $419.2 million, or $0.77 per diluted share, while non-GAAP net income was $592.7 million, or $1.08 per diluted share. The company also announced a record quarterly dividend of 45.0 cents per share, up 25.7% from the year ago quarter. Microchip's management provided guidance for the fourth quarter of fiscal year 2024, anticipating net sales between $1.225 billion and $1.425 billion.

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About Microchip Technology Inc.

Microchip Technology Inc. is a leading provider of microcontroller and analog semiconductors. The company's primary function is to design and manufacture embedded control solutions that include memory, mixed-signal, and linear components. These products are essential in enabling a wide range of applications across various industries, such as automotive, communications, computing, consumer electronics, and industrial sectors. Notably, Microchip's extensive portfolio supports the development of smart devices and IoT applications, fostering innovation in automation and connectivity. Headquartered in Chandler, Arizona, Microchip Technology Inc. plays a crucial role in the global semiconductor industry, facilitating technological advancements with its reliable and high-performance products. Through strategic acquisitions and developments, the company consistently expands its influence, serving a broad base of customers with comprehensive microcontroller and control solutions. With its commitment to quality and innovation, Microchip Technology Inc. is a pivotal player in driving the evolution of embedded control systems.