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Technology Stocks : Semi Equipment Analysis

SOXX 312.18

-0.2%

Dec 9 4:00 PM EST

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From: Julius Wong	8/20/2024 6:59:15 PM
	1 Recommendation Recommended By Return to Sender of 95546

Microchip Technology suffers cyberattack, shuts down some systems, stock slips Aug. 20, 2024 4:40 PM ET By: Brandon Evans, SA News Editor amgun Microchip Technology (NASDAQ: MCHP) slipped during early post-market trading Tuesday after it revealed "an unauthorized party disrupted the company's use of certain servers and some business operations." The company noticed suspicious activity in its IT systems on Aug. 17, and "began taking steps to assess, contain and remediate the potentially unauthorized activity," it revealed in an SEC filing this afternoon. The steps included "isolating the affected systems, shutting down certain systems, and launching an investigation with the assistance of external cybersecurity advisors." Microchip Technology said it is still working to bring the affected portions of its IT systems back online and restore normal business operations. As of today, the company is not sure if the cyberattack is expected to "materially impact" its "financial condition or results of operations."

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