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0.000315010237832779 0.000315010237832779 0.000787525594581891 -0.00283509214049456 0.000157505118916333 0.000157505118916333 0.000315010237832779 -0.00535517404315634
Stock impact report

Why Are Microchip Technology (MCHP) Shares Soaring Today [Yahoo! Finance]

Microchip Technology Incorporated (MCHP) 
Last microchip technology incorporated earnings: 2/4 04:10 pm Check Earnings Report
US:NASDAQ Investor Relations: microchip.com/investors
Company Research Source: Yahoo! Finance
Shares of analog chipmaker Microchip Technology (NASDAQ:MCHP) jumped 11% in the afternoon session after the company raised its financial guidance for its third fiscal quarter, citing stronger-than-expected business performance, bookings, and backlog. Microchip now expected its net sales and earnings per share to be at the high end of its previously provided range. This revised outlook represented an approximate 12% year-over-year growth in revenue. The company also anticipated non-GAAP earnings per share to be about $0.40, surpassing prior estimates. The CEO stated that business was performing better than expected with booking activity remaining strong. In addition to the upgraded forecast, the company also announced the launch of new energy-efficient power monitors designed to reduce power consumption by 50% in portable devices. Show less Read more
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