Microchip Technology Incorporated (NASDAQ:MCHP) is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs, which reduce risk while lowering total system cost and time to market. Our solutions serve more than 125,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality.
Morgan Stanley Lifts Price Target on Microchip Technology (NASDAQ:MCHP) to $101 From $97, Keeps Overweight Rating。
Morgan Stanley Lifts Price Target on Microchip Technology (NASDAQ:MCHP) to $101 From $97 Read Post »
Microchip Technology (NASDAQ:MCHP) reported fiscal Q1 non-GAAP earnings of $1.64 per diluted share, up from $1.37 a year earlier. Analysts polled by Capital IQ expected $1.64. Net sales for the quarter ended June 30 were $2.29 billion, up from $1.96 billion a year earlier. Analysts surveyed by Capital IQ expected $2.29 billion. The company said it expects fiscal Q2 non-GAAP diluted EPS between $1.60 and $1.64 and revenue between $2.22 billion and $2.31 billion. Analysts polled by Capital IQ expect normalized EPS of $1.62 and $2.28 billion in revenue.
Microchip Technology (NASDAQ:MCHP) had net sales of $2.17 billion in the fiscal Q3 2022, versus analyst expectations of $2.15 billion. Net sales for the fiscal fourth quarter were expected to be $2.19-2.26 billion, versus analysts’ expectations of $2.18 billion.