Microchip Technology Flags “Potentially Suspicious” Network Activity; stocks fall By Investing.com

Investing.com — Microchip Technology said on Tuesday it has detected potentially unauthorized activity on its network systems that disrupted operations at some of its facilities.

Microchip Technology Inc (NASDAQ: ) fell 3% in afterhours trading on the news.

The company said it detected “potentially suspicious activity involving its information technology systems” on August 17, and a few days later on August 19, it found that an “unauthorized party had disrupted the company’s use of certain servers and commercial operations”.

The company is working to bring affected portions of its IT systems back online, “restore normal business operations and mitigate the impact of the incident,” Microchip said, as certain manufacturing facilities are now operating at less than normal levels following the incident.

The impact of the incident is not yet known, the company said, adding that it cannot yet “determine whether the incident is reasonably likely to materially affect the company’s financial condition or results of operations,” it added.