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21:00
May 07 ◎

MCHP FY2026 Q4 Watch

Microchip Technology Incorporated (MCHP) FY2026 Q4 Earnings Call

TSM MCHP AMAT MU WDC ▾

Steve Sange

Lead times are extending beyond 4-8 weeks and are expected to broaden across many products, with significant constraints on substrates, subcontracting capacity, and foundry nodes. — Signals a broader industry supply chain tightening that could give pricing power to suppliers and impact manufacturing equipment demand.

"We are continuing to see lead times increase on many of our products. We're running into challenges on certain kinds of substrates and subcontracting capacity, and also foundry constraints on multiple nodes."

TSM WATCH AMAT WATCH

Steve Sange

Management is highly confident in a strong recovery, evidenced by record bookings, a book-to-bill above 1, and guidance well above seasonal trends.

"Our bookings for the March quarter were significantly higher than those for the December quarter. The book-to-bill ratio for the March quarter was well above 1, resulting in a much higher backlog entering the June quarter compared to when"

MCHP WATCH

Steve Sange

Memory manufacturers are shifting capacity up the stack (DRAM to NAND to NOR to EEPROM), causing shortages and price increases at the bottom of the memory hierarchy, creating an opportunity for Microchip's EEPROM business. — Suggests a trickle-down effect in memory markets, with capacity reallocation leading to price hikes and supply squeezes in legacy memory segments.

"So what some of the NAND flash manufacturers have done is shifted some of that capacity to DRAM. And then the lower end of the NAND flash capacity, some of the NOR flash manufacturers have moved into NAND flash. So the NOR flash got"

MU WATCH WDC WATCH

Steve Sange

Competitors are raising prices post-cycle, which is pushing customers towards Microchip as it maintains price stability, helping it regain market share and repair relationships. — Highlights a competitive dynamic where Microchip's pricing strategy is a key differentiator, potentially at the expense of competitors who are raising prices.

"And now what's happening is we are seeing our competitors hurt them with large price increases and all that. So they're even coming more to us. And since we haven't increased the prices, we're gaining share."

TXN WATCH STM WATCH

HIGH

22:00
Feb 05 ◎

MCHP FY2026 Q3 Watch

Microchip Technology Incorporated (MCHP) FY2026 Q3 Earnings Call

HYMTF TXN ADI MCHP ▾

Matthias Kästner

Hyundai has committed to Microchip's T1S Ethernet architecture for next-gen platforms, a substantial design-win that should drive automotive connectivity revenue growth for Microchip.

"Today, we issued a press release in which we announced a strategic collaboration with Hyundai Motor Group to integrate our Tempest T1S solutions into next-generation vehicle platforms."

HYMTF WATCH

Steve Sange

Microchip is seeing capacity constraints at a 'run-of-the-mill' foundry and on certain advanced nodes, with lead times bouncing off bottom and expedite requests up significantly, signaling early supply tightness. — This suggests the broader analog/microcontroller cycle is shifting from a buyer's market to a seller's market, potentially allowing peers to raise prices or exert better terms.

"We are running into challenges on certain kinds of substrates and subcontracting capacity and also some foundry constraints on very advanced nodes. These challenges were isolated to specific areas but are now starting to spread more"

TXN WATCH ADI WATCH

Steve Sange

Guidance is strongly positive, with above-seasonal sequential growth guided for March and commentary about accelerating demand, improving gross margins, and a lead-time/availability cycle beginning.

"So even after such a large, you know, increase, and some of that came in with the customers pulling their backlog from March into December, but the March kept filling up even further. So despite pulling a lot of product from March into"

MCHP WATCH

HIGH

22:00
Nov 06 ◎

MCHP FY2026 Q2 Watch

Microchip Technology Incorporated (MCHP) FY2026 Q2 Earnings Call

TSM NVDA AMD INTC ▾

Brian MacKerson

Microchip's leading-edge Gen 6 switch is built on TSMC's 3nm node, and capacity is secured. This solidifies TSMC's role in AI data center switching infrastructure and confirms high-end node demand.

"Yeah, so we see a really healthy long-term strategic relationship with our foundry supplier in three nanometer, which is TSMC. And we believe we have the line of sight to the capacity that's needed to support our customer needs."

TSM WATCH

Brian MacKerson

Microchip positions its PCIe switches as complementary to any AI compute architecture, potentially benefiting from all vendors' success but also competing against in-house or bundled NVIDIA switching.

"It is critical to understand that regardless of whether our customers deploy NVIDIA, AMD, Intel, or custom ASICs, all require high-performance PCIe switching infrastructure."

NVDA WATCH

Brian MacKerson

AMD's AI server platforms will require PCIe switches, a potential demand driver for Microchip's products.

"It is critical to understand that regardless of whether our customers deploy NVIDIA, AMD, Intel, or custom ASICs, all require high-performance PCIe switching infrastructure."

AMD WATCH

Brian MacKerson

Intel's AI server platforms are another potential source of demand for Microchip's switching products.

"It is critical to understand that regardless of whether our customers deploy NVIDIA, AMD, Intel, or custom ASICs, all require high-performance PCIe switching infrastructure."

INTC WATCH

HIGH

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