secwatch.observer — SEC 8-K summary
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Issuer:     MICROCHIP TECHNOLOGY INC (MCHP)
CIK:        0000827054
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0000827054-24-000022
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827054/000082705424000022/0000827054-24-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827054/000082705424000022/mchp-20240201.htm
  HTML page:      https://secwatch.observer/filing/0000827054-24-000022

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