Microchip Technology Incorporated stock price

Microchip Technology Incorporated latest news:

  • 11/06/2017 14:55:55

    Microchip Technology shares down 3.5% after earnings

    Shares of Microchip Technology Inc. fell more than 3% late Monday after the Chandler, Ariz., company reported fiscal second-quarter 2018 adjusted earnings and sales above expectations. Microchip said it earned $189.2 million, or 77 cents a share, in the quarter, compared with $34 million, or 14 cents a share, in the year-ago period. Adjusted for one-time items, the company reported a net income of $344.1 million, or $1.41 a share, compared with 94 cents a year ago. Net sales reached $1.01 billion, up 16.2% from $871 million a year ago. Analysts polled by FactSet had expected adjusted earnings of $1.35 a share on sales of $984 million. The company forecast fiscal 2018 third-quarter sales between $972 million to $1.01 billion for the third quarter of fiscal 2018 and adjusted earnings between $1.30 a share and $1.40 a share; the analysts surveyed by FactSet expect sales around $984 million and adjusted per-share earnings around $1.30. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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