04:45 PM EDT, 05/06/2024 (MT Newswires) -- Microchip Technology ( MCHP ) reported fiscal Q4 non-GAAP earnings late Monday of $0.57 per diluted share, down from $1.64 a year earlier.

Analysts polled by Capital IQ expected $0.57.

Net sales for the quarter ended March 31 were $1.33 billion, down from $2.23 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.34 billion.

The company said it expects fiscal Q1 non-GAAP EPS of $0.48 to $0.56. Analysts polled by Capital IQ expect $0.58. The company expects net sales for the quarter of $1.22 billion to $1.26 billion. Analysts surveyed by Capital IQ expect $1.36 billion.

Microchip said its board raised the quarterly dividend to $0.452 per share from $0.45, payable on June 5 to stockholders of record on May 22.

Shares of the company fell 4.5% in after-hours trading.

Price: 89.54, Change: -4.22, Percent Change: -4.50