09:42 AM EDT, 03/20/2025 (MT Newswires) -- Microchip Technology ( MCHP ) said Thursday that Macquarie Group will oversee the sale of its wafer fabrication facility in Tempe, Arizona.

The company said its product manufacturing and technologies in the site will be transferred to facilities in Oregon and Colorado.

Microchip Technology ( MCHP ) said the sale of the Arizona facility is part of a manufacturing restructuring plan to enhance operational efficiency and profitability.

The company's shares were down over 5% in early trading.

Price: 51.86, Change: -2.71, Percent Change: -4.97