Microchip, the second U.S. chipmaker to declare a security incident this year, said on Tuesday that it was the result of an “unauthorized party” interfering with the company’s use of specific servers and other business operations.
The second security incident at a U.S. chipmaker this year, Microchip Technology (MCHP.O.), reported on Tuesday that an “unauthorized party” interfered with the company’s use of certain servers and other business processes. According to a document, Microchip started responding to the problem on Saturday after seeing “potentially suspicious activity” in its IT systems.
The company reported that its manufacturing facilities were working at lower-than-normal levels and that this was affecting its capacity to fulfill orders. The company’s shares were down roughly 2% in extended trade. This occurs at a time when the business is battling a slowdown in chip orders as customers clear out extra inventory that accumulated during the COVID-19 outbreak.
The chip juggernaut Advanced Micro Devices (AMD.O.), which opens a new tab, had previously declared earlier in the year that it was looking into allegations that a cyberattack had stolen its data. Microchip announced that it had turned off a few systems and begun an inquiry with outside cybersecurity consultants. The business stated that it was unsure of the full extent, nature, and effects of the occurrence and had not yet assessed the likelihood that it would have a major negative influence on its financial situation.
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