---
schema_version: "secwatch.filing_event.v1"
accession: "0000827054-23-000131"
form_type: "8-K"
ticker: "MCHP"
cik: "0000827054"
company_name: "MICROCHIP TECHNOLOGY INC"
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T10:24:30.093889+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Microchip posts record Q1 FY2024; GAAP EPS $1.21 beats guidance; dividend raised 36%

## Summary
- Record net sales $2.289B (+16.6% YoY); GAAP EPS $1.21 beats guidance of $1.15-$1.16.
- Non-GAAP EPS $1.64 in line with guidance ($1.63-$1.65).
- Paid down $413M in debt; net leverage reduced to 1.29x.
- Quarterly dividend raised to $0.41/share (+36.2% YoY); $140.3M in share repurchases.
- Record GAAP operating margin 39.5%; Non-GAAP operating margin 48.1%.

## SEC filing metadata
- accession: 0000827054-23-000131
- form_type: 8-K
- ticker: MCHP
- cik: 0000827054
- company_name: MICROCHIP TECHNOLOGY INC
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827054/000082705423000131/0000827054-23-000131-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827054/000082705423000131/mchp-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827054-23-000131
- JSON: https://secwatch.observer/filing/0000827054-23-000131.json
- Plain text: https://secwatch.observer/filing/0000827054-23-000131.txt

## Key facts
- Earnings Releases
  MICROCHIP TECHNOLOGY INC reported the three months ended June 30, 2023 results: revenue $2,288.6, net income $666.4, EPS $1.21 per diluted share.
  - Period: the three months ended June 30, 2023
  - Revenue: $2,288.6
  - Net income: $666.4
  - EPS: $1.21 per diluted share
  - Result: reported results
  source text: Chandler, AZ 85224-6199 Main Office 480•792•7200 Microchip Technology Reports First Quarter Fiscal 2024 Financial Results Page 2 Three Months Ended June 30, 2023 (1) Net sales $2,288.6 GAAP % Non-GAAP (2) % Gross profit $1,558.4 68.1% $1,565.2 68.4% Operating income $903.1 39.5% $1,100.4 48.1% Other expense $(54.8) $(45.7) Income tax provision $181.9 $149.4 Net
  evidence_url: https://www.sec.gov/Archives/edgar/data/827054/000082705423000131/0000827054-23-000131-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.