Microchip Technology (MCHP) PT Raised to $82 at Stifel
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Microchip Technology Announces Record Financial Results for Second Quarter of Fiscal Year 2022
November 4, 2021 4:15 PM EDTRecord net sales of $1.650 billion, up 5.1% sequentially and up 26.0% from the year ago quarter. The midpoint of our guidance provided on August 3, 2021 was net sales of $1.648 billion.On a GAAP basis: record gross margin of 64.8%; record operating income of $416.3 million; net income of $242.0 million; and EPS of $0.43 per diluted share. Our guidance provided on August 3, 2021 was for GAAP EPS of $0.47 to $0.49 per diluted share on a split-adjusted basis. Our guidance did not include the $85.2 million loss on debt settlement associated with our debt refinancing activities in the... More
Microchip Technology Declares Quarterly Cash Dividend Increase of 25.9% Year-Over-Year
November 4, 2021 4:15 PM EDTCHANDLER, Ariz., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that on November 2, 2021, its Board of Directors declared a quarterly cash dividend on its common stock of 23.2 cents per share. The dividend is payable on December 3, 2021, to stockholders of record on November 19, 2021. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 68 times since its inception.
Microchips financial performance in the September 2021 quarter was very strong, resulting in significant cash generation and debt reduction, said Steve... More
