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A maker of microcontrollers and other embedded control chips—the small computers-on-a-chip that power everything from car engines to industrial machinery. Its product lineup spans the well-known PIC microcontroller family, analog chips, FPGAs, and memory, sold to about 101,000 customers. The company began in 1987 as a spinoff of General Instrument's microelectronics division, gained independence in 1989, and expanded through its 2018 purchase of Microsemi. A fun quirk: "PIC" originally stood for "Peripheral Interface Controller," reflecting the chips' early job of offloading tasks from larger processors.
Microchip stockholders approve 12M share increase to 2004 Equity Incentive Plan
At the August 18, 2026 annual meeting, stockholders approved an amendment to the 2004 Equity Incentive Plan increasing authorized shares by 12,000,000.
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All seven director nominees were elected: Ellen L. Barker, Rick Cassidy, Matthew W. Chapman, Mitch Little, Victor Peng, Karen M. Rapp, and Steve Sanghi.
Stockholders ratified Ernst & Young LLP as independent auditor for fiscal year ending March 31, 2027.
Advisory vote on named executive officer compensation was approved.
The amended plan is filed as Exhibit 10.1 to the 8-K.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.07 Submission of Matters to a Vote of Security Holders · 9.01 Financial Statements and Exhibits
Microchip Q4 FY2026 net sales $1.311B, up 35.1% YoY; guides Q1 FY2027 sales $1.442-1.469B
Q4 FY2026 net sales were $1.311 billion, up 35.1% from the year-ago quarter and up 10.6% sequentially, exceeding the midpoint of guidance of $1.260 billion.
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GAAP diluted EPS for Q4 FY2026 was $0.21, up from a net loss of $0.29 per share in the prior-year quarter; non-GAAP diluted EPS was $0.57, up from $0.11.
Fiscal year 2026 net sales were $4.713 billion, up 7.1% from the prior year; GAAP diluted EPS was $0.22, and non-GAAP diluted EPS was $1.64.
For the June 2026 quarter, Microchip expects net sales of $1.442 to $1.469 billion, non-GAAP gross margin of 62.25% to 63.25%, and non-GAAP EPS of $0.67 to $0.71.
The Board declared a quarterly cash dividend of 45.5 cents per common share, payable June 5, 2026, and a dividend on Series A Preferred Stock of $18.750 per share, payable June 15, 2026.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Microchip Technology issues $800M 0% convertible senior notes due 2030, with $100M option exercised
Microchip Technology entered into a purchase agreement on Feb 9, 2026 to sell $800 million aggregate principal amount of 0% Convertible Senior Notes due 2030, with an option for an additional $100 million that was exercised in full on Feb 10, 2026.
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The notes are senior unsecured obligations, mature on February 15, 2030, and do not bear interest; the initial conversion rate is 9.5993 shares per $1,000 principal, equivalent to an initial conversion price of approximately $104.17 per share.
Net proceeds from the offering were approximately $883.3 million; about $68.0 million was used to pay for capped call transactions, and the remainder is intended to repay commercial paper program notes.
The company entered into capped call transactions with option counterparties to reduce potential dilution upon conversion, with an initial cap price of $148.82 per share.
The notes were sold in a private placement exempt from registration under Section 4(a)(2) and Rule 144A, and shares issuable upon conversion are not registered.
Holders may require repurchase on February 15, 2029 if the stock price is below the conversion price, and the company may redeem the notes on or after February 20, 2029 under certain conditions.
Earnings8-K
Microchip Q3 FY2026 net sales $1.186B, up 15.6% YoY; non-GAAP EPS $0.44
Net sales for the quarter ended December 31, 2025 were $1.186 billion, up 4.0% sequentially and 15.6% year-over-year.
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GAAP net income attributable to common stockholders was $34.9 million, or $0.06 per diluted share, versus a net loss of $53.6 million, or $0.10 per share, in the prior year quarter.
Non-GAAP net income was $252.8 million, or $0.44 per diluted share, up from $107.3 million, or $0.20 per share, a year ago.
The company declared a quarterly common stock dividend of 45.5 cents per share, payable March 10, 2026.
March 2026 quarter net sales guidance midpoint is $1.260 billion, up 6.2% sequentially and 29.8% year-over-year.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 3.02 Unregistered Sales of Equity Securities · 8.01 Other Events · 9.01 Financial Statements and Exhibits