Shares of Microchip Technology Inc. (MCHP) fell on Tuesday after the company disclosed a cybersecurity incident in a filing with the SEC.
Details: Microchip Technology Inc. said it first detected suspicious activity related to its information technology systems on Saturday and has begun steps to evaluate the activity for possible fraud.
The company on Monday determined that an unauthorized third party had disrupted the use of certain of its servers and some of its business operations, and launched an investigation with the help of outside cybersecurity advisers.
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Microchip Technology Inc. said its investigation is ongoing and the nature and impact of the incident is still unknown, but its manufacturing facilities are operating at lower than normal levels and its ability to fulfill orders is currently being affected.
The company added that it has not yet determined whether this incident will have a material impact on its financial position or results of operations.
MCHP Price Action: Microchip Technology shares were down 1.91% to $78.75 in after-hours trading as of Tuesday's announcement, according to Benzinga Pro.
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