Microchip Technology expects revenue growth this quarter

Microchip Technology Incorporated recently spoke at the Morgan Stanley Technology, Media & Telecom Conference. CEO Steve Sanghi and CFO Eric Bjornholt shared updates about the company's performance and future plans. During his presentation, Steve Sanghi mentioned that the company is seeing favorable signs in its revenue for the current quarter, aligning with their earlier forecasts. He noted that the inventory correction process, which has affected distribution, is nearing its end. This means they expect shipments to stabilize and possibly increase. Sanghi explained that while it is hard to assess customer inventory levels, overall improvement in distributions suggests a positive trend. He highlighted an increase in total bookings for January and February, which can be viewed in detail on their website. The discussion included caution about forward-looking statements, as actual results may differ due to various risk factors. The company remains optimistic about its future, as they continue to navigate challenges in the semiconductor industry.