As its name suggests, Microchip, the Arizona-based, Nasdaq-listed multinational, makes semiconductors: sensors and controllers used in millions of electronic devices worldwide. In the financial year ended on March 31, 2021, it sold $5.4 billion worth of them – including $4 billion in Europe and Asia. Its Dublin subsidiary Microchip Technology Ireland booked nearly all these non-American sales. According to new accounts filed in the past few days, it recorded $3.8 billion in turnover over the same period, in line with the double-digit growth trend observed the previous year.  Yet the Irish company was heavily loss-making. It was in the red…

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