Microchip Technology shares fall after cybersecurity incident – Microchip Technology (NASDAQ:MCHP)

Microchip Technology GmbH MCHP Shares are trading lower on Tuesday after the company disclosed a cybersecurity incident in an SEC filing.

The details: Microchip Technology said it first identified potentially suspicious activity related to its information technology systems on Saturday and has taken steps to evaluate the potentially unauthorized activity.

The company discovered on Monday that an unauthorized party had disrupted the use of certain servers and some business processes, and Microchip Technology launched an investigation with the assistance of outside cybersecurity consultants.

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Microchip Technology said its investigation is ongoing and the nature and impact of the incident are not yet known. However, the company's manufacturing facilities are not operating at normal levels and the company's ability to fulfill orders is currently impacted.

The company added that it had not yet been determined whether the incident would have a material impact on its financial condition or results of operations.

MCHP price promotion: According to Benzinga Pro, Microchip Technology shares are down 1.91% in after-hours trading on Tuesday, trading at $78.75.

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