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Microchip Technology Discloses Cybersecurity Incident -- Shares Fall After Hours
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Microchip Technology Discloses Cybersecurity Incident -- Shares Fall After Hours
Aug 20, 2024 2:36 PM

05:04 PM EDT, 08/20/2024 (MT Newswires) -- Microchip Technology ( MCHP ) said Tuesday that certain of its manufacturing facilities are operating at less-than-normal levels, affecting its ability to fulfill orders, due to a cybersecurity incident.

The company determined Monday that "an unauthorized party disrupted" its use of certain servers and some business operations, according to a Tuesday regulatory filing. Microchip said it instantly took measures to address the issue, including launching a probe with the help of external cybersecurity advisers.

The company said it has yet to determine whether the incident is "reasonably likely to materially impact" its financial condition or results of operations.

Microchip shares were down nearly 2% in after-hours activity.

Price: 78.75, Change: -1.53, Percent Change: -1.91

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