---
schema_version: "secwatch.filing_event.v1"
accession: "0000827054-24-000138"
form_type: "8-K"
ticker: "MCHP"
cik: "0000827054"
company_name: "MICROCHIP TECHNOLOGY INC"
filed_at: "2024-08-01T23:59:59+00:00"
generated_at: "2026-05-31T14:08:15.162838+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000827054-24-000138
- form_type: 8-K
- ticker: MCHP
- cik: 0000827054
- company_name: MICROCHIP TECHNOLOGY INC
- filed_at: 2024-08-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827054/000082705424000138/0000827054-24-000138-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827054/000082705424000138/mchp-20240801.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827054-24-000138
- JSON: https://secwatch.observer/filing/0000827054-24-000138.json
- Plain text: https://secwatch.observer/filing/0000827054-24-000138.txt

## Source-grounded claims
- claim_id: 3af8f67b5a
  claim: Steve Sanghi retired as Executive Chair at MICROCHIP TECHNOLOGY INC.
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/827054/000082705424000138/0000827054-24-000138-index.htm

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