Microchip Q1 sales down 45.8% YoY; Executive Chair retires as officer; dividend up 10.7%

MICROCHIP TECHNOLOGY INC

2025-Q1 EPS reported $0.24 revenue$1,241,300,000

Net sales $1.241B, down 6.4% sequentially and 45.8% YoY, within guidance midpoint.
GAAP net income $129.3M ($0.24 diluted EPS); Non-GAAP $289.9M ($0.53 diluted EPS).
Quarterly dividend increased to $0.454/share, up 10.7% YoY, a record quarterly dividend.
Steve Sanghi retiring as officer/employee effective Aug 20, 2024, remaining as board chair.
Returned $315.3M to stockholders via dividends and share repurchases in the June quarter.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Steve Sanghi

Executive Chair

MCHP · MICROCHIP TECHNOLOGY INC

Effective: 2024-08-20
Filed: August 1, 2024, 7:59 PM ET

Steve Sanghi, the Company’s Executive Chair, informed the Company of his retirement as an officer and employee of the Company effective at the end of the day on August 20, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Steve Sanghi retired as Executive Chair at MICROCHIP TECHNOLOGY INC.

Action: retired
Role: Executive Chair

Exact text from the filing

Steve Sanghi, the Company’s Executive Chair, informed the Company of his retirement as an officer and employee of the Company effective at the end of the day on August 20, 2024.

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MICROCHIP TECHNOLOGY INC filing history →

Source: SEC EDGAR

accession 0000827054-24-000138

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