Microchip Technology Incorporated (NASDAQ:MCHP) posted in-line earnings for its fourth quarter on Monday. Microchip Technology posted GAAP earnings of 57 cents per share, in-line with estimates of 57 cents per share. The company posted sales of $1.33 billion in-line with expectations, according to data from Benzinga Pro. Microchip Technology raised its quarterly cash dividend by 18.0% year-over-year to 45.2 cents per share. “We experienced a major inventory correction in fiscal 2024, leading to a 9.5% decline in revenue to $7.6 billion. Despite this, our resilient operating model and ...