Financial PerformanceSales weakened considerably in the quarter, with Microchip calling out broad-based weakness across geographies and most end markets.
Inventory IssuesHigh inventory levels with MarQ DOI at 224 days, a 4-year-high, and JunQ estimated higher.
Management StrategyManagement plans to lower factory utilization, including planned two-week shutdowns, as customers continue requesting pushouts and cancellations.