MCHP May 2024 87.500 call
| Previous close | 5.40 |
| Open | 7.00 |
| Bid | 7.00 |
| Ask | 7.90 |
| Strike | 87.50 |
| Expiry date | 2024-05-17 |
| Day's range | 7.00 - 7.20 |
| Contract range | N/A |
| Volume | |
| Open interest | 440 |
- Reuters
Microchip Technology expects weak quarterly results on excess inventory impact
Slowing electric vehicle sales at a time when customers are clearing excess inventory have weighed heavily on demand for chips in the automotive industry, hitting chipmakers such as Microchip Technology amid an uncertain economic environment. Customers had built excess inventory to avoid a supply crunch during the pandemic.
StockStoryMicrochip Technology (NASDAQ:MCHP) Reports Weak Q1
Analog chipmaker Microchip Technology (NASDAQ:MCHP) missed analysts' expectations in Q1 CY2024, with revenue down 40.6% year on year to $1.33 billion. Next quarter's revenue guidance of $1.24 billion also underwhelmed, coming in 8.7% below analysts' estimates. It made a non-GAAP profit of $0.57 per share, down from its profit of $1.64 per share in the same quarter last year.
GlobeNewswireMicrochip Technology Increases Quarterly Cash Dividend 18.0% Year-Over-Year to 45.2 Cents Per Share
CHANDLER, Ariz., May 06, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that its Board of Directors declared a quarterly cash dividend on its common stock of 45.2 cents per share. The dividend is payable on June 5, 2024, to stockholders of record on May 22, 2024. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased
