8-K: Current report filing
Published on March 8, 2022
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
(Exact Name Of Registrant As Specified In Its Charter) | ||
| (State Or Other Jurisdiction Of Incorporation) | (Commission File No.) | (IRS Employer Identification No.) | ||||||
(Address Of Principal Executive Offices, Including Zip Code)
(480 ) 792-7200
(Registrant’s Telephone Number, Including Area Code)
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | |||||
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||||||||
| (Nasdaq Global Select Market) | ||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 |
Regulation FD Disclosure. |
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On March 8, 2022, Microchip Technology Incorporated (“Microchip, “we” or “our”) management gave a presentation at the Morgan Stanley Technology, Media and Telcom Conference. Among other things, at the presentation, management provided a new update regarding our expected growth rates noting that at our investor day in November 2021, we shared that using our fiscal 2021 revenue as the baseline, we expected our long-term revenue growth rate to be 2x the industry growth rate. This assumed a historical backward-looking semiconductor growth rate of 3% to 4% per year. With the benefit of a few more months of data and some deeper analysis, management clarified today that our five year growth rate using fiscal 2021 as a baseline is expected to be 10% to 15%.
A link to a recording of the presentation was posted to Microchip’s website earlier today and is available at
https://www.microchip.com/en-us/about/investors/investor-information/calendar
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Microchip Technology Incorporated | ||
| Date: March 8, 2022 | ||
| By: | /s/ J. Eric Bjornholt | ||||
| J. Eric Bjornholt | |||||
| Sr. Vice President, Chief Financial Officer | |||||
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