Microchip Technology Inc. (MCHP, Financial) filed Annual Report for the period ended 2011-03-31.
Microchip Technology Inc. has a market cap of $7.37 billion; its shares were traded at around $39.13 with a P/E ratio of 18.63 and P/S ratio of 4.96. The dividend yield of Microchip Technology Inc. stocks is 3.54%. Microchip Technology Inc. had an annual average earning growth of 8.3% over the past 10 years.
Fab 4 currently produces 8-inch wafers using predominantly 0.22 to 0.5 micron manufacturing processes and is capable of supporting technologies below 0.18 microns. Similar to Fab 2, during fiscal 2011, Fab 4 was operating at or above normal capacity levels, which we typically consider to be in the range of 90% to 95% of the actual capacity of the installed equipment. The capacity of Fab 4 to support our most advanced technology and support new technology development was increased during fiscal 2011 by starting up more of the tools we acquired when we purchased Fab 4 in fiscal 2003 and installing new tools. A significant amount of additional clean room capacity and equipment acquired with Fab 4 can be brought on line in the future to support incremental wafer fabrication capacity needs. We believe the combined capacity of Fab 2 and Fab 4 will provide sufficient capacity to allow us to respond to increases in future demand over the next several years with modest incremental capital expenditures.
We perform product assembly and testing at our facilities located near Bangkok, Thailand. As of March 31, 2011, approximately 61% of our assembly requirements were being performed in our Thailand facility. As of March 31, 2011, approximately 88% of our test requirements were performed in our Thailand facility. We use third-party assembly and test contractors in several Asian countries for the balance of our assembly and test requirements. During fiscal 2011, consistent with favorable business conditions, we operated at normal capacity levels and selectively increased our probe, assembly and test capacity at our Thailand facility.
In fiscal 2011, we derived 58% of our net sales through distributors and 42% of our net sales from customers serviced directly by Microchip. In fiscal 2010, we derived 61% of our net sales through distributors and 39% of our net sales from customers serviced directly by Microchip. In fiscal 2009, we derived 64% of our net sales through distributors and 36% of our net sales from customers serviced directly by Microchip. Our largest distributor accounted for approximately 10% of our net sales in fiscal 2011, 12% of our net sales in fiscal 2010 and 14% of our net sales in fiscal 2009. No other distributor or end customer accounted for more than 10% of our net sales in fiscal 2011, fiscal 2010 or fiscal 2009.
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Microchip Technology Inc. has a market cap of $7.37 billion; its shares were traded at around $39.13 with a P/E ratio of 18.63 and P/S ratio of 4.96. The dividend yield of Microchip Technology Inc. stocks is 3.54%. Microchip Technology Inc. had an annual average earning growth of 8.3% over the past 10 years.
Highlight of Business Operations:
Fab 2 currently produces 8-inch wafers and supports manufacturing processes from 0.35 to 5.0 microns. During fiscal 2011, Fab 2 operated at or above normal capacity levels, which we typically consider to be in the range of 90% to 95% of the actual capacity of the installed equipment. Fab 2's capacity to support more advanced technologies was increased during fiscal 2011 by making process improvements, upgrading existing equipment, and adding equipment as required.Fab 4 currently produces 8-inch wafers using predominantly 0.22 to 0.5 micron manufacturing processes and is capable of supporting technologies below 0.18 microns. Similar to Fab 2, during fiscal 2011, Fab 4 was operating at or above normal capacity levels, which we typically consider to be in the range of 90% to 95% of the actual capacity of the installed equipment. The capacity of Fab 4 to support our most advanced technology and support new technology development was increased during fiscal 2011 by starting up more of the tools we acquired when we purchased Fab 4 in fiscal 2003 and installing new tools. A significant amount of additional clean room capacity and equipment acquired with Fab 4 can be brought on line in the future to support incremental wafer fabrication capacity needs. We believe the combined capacity of Fab 2 and Fab 4 will provide sufficient capacity to allow us to respond to increases in future demand over the next several years with modest incremental capital expenditures.
We perform product assembly and testing at our facilities located near Bangkok, Thailand. As of March 31, 2011, approximately 61% of our assembly requirements were being performed in our Thailand facility. As of March 31, 2011, approximately 88% of our test requirements were performed in our Thailand facility. We use third-party assembly and test contractors in several Asian countries for the balance of our assembly and test requirements. During fiscal 2011, consistent with favorable business conditions, we operated at normal capacity levels and selectively increased our probe, assembly and test capacity at our Thailand facility.
In fiscal 2011, we derived 58% of our net sales through distributors and 42% of our net sales from customers serviced directly by Microchip. In fiscal 2010, we derived 61% of our net sales through distributors and 39% of our net sales from customers serviced directly by Microchip. In fiscal 2009, we derived 64% of our net sales through distributors and 36% of our net sales from customers serviced directly by Microchip. Our largest distributor accounted for approximately 10% of our net sales in fiscal 2011, 12% of our net sales in fiscal 2010 and 14% of our net sales in fiscal 2009. No other distributor or end customer accounted for more than 10% of our net sales in fiscal 2011, fiscal 2010 or fiscal 2009.
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