---
schema_version: "secwatch.filing_event.v1"
accession: "0000827054-24-000022"
form_type: "8-K"
ticker: "MCHP"
cik: "0000827054"
company_name: "MICROCHIP TECHNOLOGY INC"
filed_at: "2024-02-01T23:59:59+00:00"
generated_at: "2026-06-06T12:19:14.414309+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Microchip Q3 revenue drops 21.7% sequentially; GAAP EPS beats guidance but non-GAAP misses

## Summary
- Net sales $1.766B, down 21.7% QoQ and 18.6% YoY; preliminary guidance had indicated a 22% sequential decline.
- GAAP EPS $0.77 (guidance $0.68-$0.76); non-GAAP EPS $1.08 (guidance $1.09-$1.17).
- Dividend increased 25.7% to $0.45/share for the March quarter, a record quarterly dividend.
- Paid down $392M of debt in the quarter; cumulative $7.1B over 22 quarters; net leverage 1.27x.
- Returned $352M to shareholders via $237.4M dividends and $114.6M share repurchases (1.4M shares at avg $82.66).

## SEC filing metadata
- accession: 0000827054-24-000022
- form_type: 8-K
- ticker: MCHP
- cik: 0000827054
- company_name: MICROCHIP TECHNOLOGY INC
- filed_at: 2024-02-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827054/000082705424000022/0000827054-24-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827054/000082705424000022/mchp-20240201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827054-24-000022
- JSON: https://secwatch.observer/filing/0000827054-24-000022.json
- Plain text: https://secwatch.observer/filing/0000827054-24-000022.txt

## Key facts
- Earnings Releases
  MICROCHIP TECHNOLOGY INC reported third quarter of fiscal year 2024 results: revenue $1.766 billion, net income $419.2 million, EPS $0.77 per diluted share.
  - Period: third quarter of fiscal year 2024
  - Revenue: $1.766 billion
  - Net income: $419.2 million
  - EPS: $0.77 per diluted share
  - Result: reported results
  source text: INVESTOR RELATIONS CONTACT: J. Eric Bjornholt -- CFO..... (480) 792-7804 MICROCHIP TECHNOLOGY ANNOUNCES FINANCIAL RESULTS FOR THIRD QUARTER OF FISCAL YEAR 2024 • Net sales of $1.766 billion, down 21.7% sequentially and down 18.6% from the year ago quarter. Our preliminary net sales results provided on January 8, 2024 was for net sales to be down 22% sequentially. •
  evidence_url: https://www.sec.gov/Archives/edgar/data/827054/000082705424000022/0000827054-24-000022-index.htm

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