Docoh
Loading...

MCHP Microchip Technology

Microchip Technology Inc. is a publicly-listed American corporation that is a manufacturer of microcontroller, mixed-signal, analog and Flash-IP integrated circuits. Its products include microcontrollers , Serial EEPROM devices, Serial SRAM devices, embedded security devices, radio frequency devices, thermal, power and battery management analog devices, as well as linear, interface and wireless solutions.[buzzword] Corporate headquarters are located in Chandler, Arizona, with wafer fabs in Tempe, Arizona, Gresham, Oregon, and Colorado Springs, Colorado, assembly/test facilities in Chachoengsao, Thailand, and Calamba and Cabuyao, Philippines. Sales for the fiscal year ending on March 31, 2019 were $5.35 billion.

Company profile

MCHP stock data

(
)

Calendar

4 Feb 21
13 Apr 21
31 Mar 22
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 20 Mar 19 Mar 18 Mar 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 370.7M 370.7M 370.7M 370.7M 370.7M 370.7M
Cash burn (monthly) (positive/no burn) 2.2M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 7.56M n/a n/a n/a n/a
Cash remaining n/a 363.14M n/a n/a n/a n/a
Runway (months of cash) n/a 165.1 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 21 James Eric Bjornholt Performance Stock Units Common Stock Grant Aquire A No No 0 741 0 741
1 Apr 21 James Eric Bjornholt RSU Common Stock Grant Aquire A No No 0 741 0 741
1 Apr 21 Stephen V Drehobl Performance Stock Units Common Stock Grant Aquire A No No 0 928 0 928
1 Apr 21 Stephen V Drehobl RSU Common Stock Grant Aquire A No No 0 928 0 928
1 Apr 21 Mitchell R Little Performance Stock Units Common Stock Grant Aquire A No No 0 738 0 738
1 Apr 21 Mitchell R Little RSU Common Stock Grant Aquire A No No 0 738 0 738
1 Apr 21 Ganesh Moorthy Performance Stock Units Common Stock Grant Aquire A No No 0 3,053 0 3,053
1 Apr 21 Ganesh Moorthy RSU Common Stock Grant Aquire A No No 0 3,052 0 3,052

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

91.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 897 795 +12.8%
Opened positions 173 97 +78.4%
Closed positions 71 78 -9.0%
Increased positions 280 285 -1.8%
Reduced positions 296 268 +10.4%
13F shares
Current Prev Q Change
Total value 34.4B 25.8B +33.3%
Total shares 246M 245.38M +0.3%
Total puts 2.05M 2.32M -11.7%
Total calls 1.9M 2.39M -20.4%
Total put/call ratio 1.1 1.0 +10.9%
Largest owners
Shares Value Change
Vanguard 29.71M $4.1B +1.2%
BLK Blackrock 20.22M $2.79B +2.1%
Dodge & Cox 18.28M $2.52B -11.9%
TROW T. Rowe Price 12.99M $1.79B -1.1%
STT State Street 9.93M $1.37B +0.6%
JHG Janus Henderson 9.02M $1.25B -17.9%
Aristotle Capital Management 8.92M $1.23B +0.7%
BAC Bank Of America 8.69M $1.2B +0.1%
JPM JPMorgan Chase & Co. 6.91M $953.98M +0.3%
PFG Principal Financial Group Inc - Registered Shares 5.79M $799.2M -1.6%
Largest transactions
Shares Bought/sold Change
Norges Bank 2.6M +2.6M NEW
Dodge & Cox 18.28M -2.47M -11.9%
JHG Janus Henderson 9.02M -1.97M -17.9%
Point72 Asset Management 1.05M +813.08K +342.4%
Woodline Partners 0 -706.65K EXIT
Carillon Tower Advisers 630.11K +630.11K NEW
Allianz Asset Management GmbH 2.64M +570.35K +27.6%
Saturna Capital 5.91K -504.97K -98.8%
BLK Blackrock 20.22M +420.91K +2.1%
American Century Companies 60.21K -410.5K -87.2%

Financial report summary

?
Risks
  • Our operating results are impacted by global economic conditions and may fluctuate in the future due to a number of factors that could reduce our net sales and profitability.
  • Our operating results may be adversely impacted if economic conditions impact the financial viability of our licensees, customers, distributors, or suppliers.
  • The future trading price of our common stock could be subject to wide fluctuations in response to a variety of factors.
  • We may not fully realize the anticipated benefits of our completed or future acquisitions or divestitures including our acquisition of Microsemi.
  • Our financial condition and results of operations could be adversely affected if we do not effectively manage our current or future debt.
  • Servicing our current debt requires a significant amount of cash, we may not have sufficient cash flow from our business to fund future payments and any adverse changes in our credit ratings could increase our borrowing costs and could adversely affect our ability to access the debt markets.
  • We are dependent on orders that are received and shipped in the same quarter and therefore have limited visibility to future product shipments.
  • We may lose sales if suppliers of raw materials, components or equipment fail to meet our or our customers' needs or increase costs due to the impact of the COVID-19 virus, increased tariffs or other factors.
  • Intense competition in the markets we serve may lead to pricing pressures, reduced sales of our products or reduced market share.
  • We are dependent on wafer foundries and other contractors to perform key manufacturing functions for us, and our licensees of our SuperFlash and other technologies also rely on foundries and other contractors.
  • Our operating results will suffer if we ineffectively utilize our manufacturing capacity or fail to maintain manufacturing yields.
  • Our operating results are impacted by both seasonality and the wide fluctuations of supply and demand in the semiconductor industry.
  • Our business is dependent on distributors to service our end customers.
  • Our success depends on our ability to introduce new products on a timely basis.
  • We continue to be the target of attacks on our data, attempts to breach our security and attempts to introduce malicious software into our IT systems and any interruptions in our IT systems, unauthorized access to our IT systems or improper handling of data, could adversely affect our business.
  • If we fail to maintain proper and effective internal control and remediate future control deficiencies, our ability to produce accurate and timely financial statements could be impaired, which could harm our operating results, our ability to operate our business and investors' views of us.
  • Our reported financial results may be adversely affected by new accounting pronouncements or changes in existing accounting standards and practices.
  • Business interruptions to our operations or the operations of our key vendors, subcontractors, licensees or customers, whether due to public health concerns (such as the COVID-19 virus), natural disasters, cybersecurity incidents, or other events, could harm our business.
  • We are exposed to various risks related to legal proceedings, investigations or claims.
  • Failure to adequately protect our intellectual property could result in lost revenue or market opportunities.
  • Regulatory authorities in jurisdictions into or from which we ship our products could levy fines, restrict or delay our ability to export or transfer products, or increase costs associated with the manufacture or transfer of products.
  • We are highly dependent on foreign sales and operations, which exposes us to foreign political and economic risks including risks from increases in tariffs.
  • Our contractual relationships with our customers expose us to risks and liabilities.
  • Reliance on government contracts and sales to governmental agencies could have a material adverse effect on our results of operations.
  • We must attract and retain qualified personnel to be successful, and competition for qualified personnel can be intense.
  • The occurrence of events for which we are self-insured, or which exceed our insurance limits, may adversely affect our profitability and liquidity.
  • We are subject to stringent environmental and other regulations, which may force us to incur significant expenses.
  • Customer demands for us to implement business practices that are more stringent than existing legal requirements may reduce our revenue opportunities or cause us to incur higher costs.
  • Customer demands and regulations related to conflict-free minerals may force us to incur additional expenses.
  • The outcome of future examinations of our income tax returns could have an adverse effect on our results of operations.
  • Exposure to greater than anticipated income tax liabilities, changes in tax rules and regulations (including the Act), changes in the interpretation of tax rules and regulations, or unfavorable assessments from tax audits could affect our effective tax rates, financial condition and results of operations.
  • Anti-takeover defenses in our charter documents and under Delaware law could discourage takeover attempts, which could also reduce the market price of our common stock.
  • As a result of our acquisition activity, our goodwill and intangible assets have increased significantly in recent years and we may in the future incur impairments to goodwill or intangible assets.
  • Our foreign pension plans are unfunded, and any requirement to fund these plans in the future could negatively affect our cash position and operating capital.
  • From time to time we receive grants from governments, agencies and research organizations. If we are unable to comply with the terms of those grants, we may not be able to receive or recognize grant benefits or we may be required to repay grant benefits previously paid to us and recognize related charges, which would adversely affect our operating results and financial position.
  • Conversion of our debentures will dilute the ownership interest of our existing stockholders.
  • Climate change regulations and sustained adverse climate change pose regulatory and physical risks that could harm our results of operations or affect the way we conduct business.
Management Discussion
  • We operate in two industry segments and engage primarily in the design, development, manufacture and sale of semiconductor products as well as the licensing of our SuperFlash and other technologies.  We sell our products to distributors and original equipment manufacturers, referred to as OEMs, in a broad range of markets, perform ongoing credit evaluations of our customers and generally require no collateral.  In certain circumstances, a customer's financial condition may require collateral, and, in such cases, the collateral would be typically provided by letters of credit.
  • The increase in net sales in the three months ended December 31, 2020 compared to the three months ended December 31, 2019 was primarily due to strength in our microcontroller and analog product lines. The net sales value of inventory at our distributor customers decreased $26.1 million during the three months ended December 31, 2020 compared to a decrease of $36.1 million during the three months ended December 31, 2019. Excluding the impact of changes in distributor inventory levels on net sales, demand increased by 4.1% in the three months ended December 31, 2020 compared to the three months ended December 31, 2019 and was positively impacted by strength in our microcontroller and analog product lines. Due to the size, complexity and diversity of our customer base, we are not able to quantify any material factor contributing to the change other than demand fluctuations in the end markets that we serve.
  • The increase in net sales in the nine months ended December 31, 2020 compared to the nine months ended December 31, 2019 was primarily due to the positive impact of changes in distributor inventory levels offset by adverse demand fluctuations in the markets we serve. The net sales value of inventory at our distributor customers increased $12.4 million during the nine months ended December 31, 2020, compared to a decrease of $71.9 million during the nine months ended December 31, 2019. Excluding the impact of changes in distributor inventory levels on net sales, demand decreased by 1.5% in the nine months ended December 31, 2020 compared to the nine months ended December 31, 2019 and was negatively impacted by general economic conditions and the impact of the COVID-19 pandemic. Due to the size, complexity and diversity of our customer base, we are not able to quantify the impact that general economic conditions and the COVID-19 pandemic had on each of the end markets that we serve.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Good
New words: calendar, dissipated, hand, hardware, restored, resumed, silicon, strike, surge, TSS
Removed: acquiror, acted, approval, attempting, called, certificate, charter, conducting, death, Delaware, delaying, deter, director, discourage, enhance, facilitate, hostile, incorporation, merging, nominate, nominated, preferred, proposal, propose, removal, resignation, slate, solicitation, stockholder, takeover, unsolicited, vacancy, vote, voting

Patents

GRANT
Utility
Dual input LDO voltage regulator
6 Apr 21
A low dropout (LDO) includes voltage inputs to receive input from voltage sources.
GRANT
Utility
SRAM configuration cell for low-power field programmable gate arrays
6 Apr 21
A random-access memory cell includes first and second voltage supply nodes, first and second complementary output nodes, first and second complementary bit lines associated with the memory cell, and a word line associated with the memory cell.
GRANT
Utility
Circuit and methods for transferring a phase value between circuits clocked by non-synchronous clock signals
6 Apr 21
A circuit for transferring a n-bit phase value between circuits includes a system clock input, a n-bit phase value generator coupled to the system clock input generating a phase value output, and an edge output indicating the phase output value is valid, a latching clock delay circuit having an input coupled to the system clock input, an input coupled to the edge output, a variable phase delay circuit coupled to the phase value output, a delay adder having a first input coupled to the phase value output, a second input coupled to a delay offset signal, and an output coupled to the control input of the variable phase delay circuit, and a phase flip-flop having a data input coupled to the output of the variable phase delay circuit, a clock input coupled to a latching clock output of the variable output clock delay circuit and a Phase Out output.
GRANT
Utility
System and method for data sampler drift compensation
6 Apr 21
A system and method for data sampler drift compensation in a SerDes receiver.
APP
Utility
Wireless Power Transfer Based on Transmitter Coil Voltage Sensing
1 Apr 21
In a wireless power transfer system for supplying power to a wireless device, e.g., charging a battery, wireless power transmitter coil voltage is used in place of coil current for communication and power control reference.