From Nasdaq: 2024-05-07 12:31:00

Microchip Technology reported Q4 earnings of 57 cents per share, in line with estimates but down 65.2% YoY. Sales declined 40.6% to $1.33 billion. Gross margin contracted to 60.3%. Cash and short-term investments totaled $319.7 million. Quarterly dividend increased by 18%. Q1 2025 guidance: net sales $1.22-$1.26 billion, earnings 48-56 cents per share, gross margin 59-61%. Microchip stock gained 4% YTD. Bumble, Airbnb, and NVIDIA are better-ranked stocks in the sector. Download Zacks’ free Special Report on stocks for both Democrats and Republicans.



Read more at Nasdaq: Microchip (MCHP) Q4 Earnings Meet Estimates, Sales Decline Y/Y