Microchip narrows Q4 guidance

• Microchip (NASDAQ:MCHP) narrows its Q4 guidance to consolidated net sales of $1.279B to $1.375B from the prior $1.251B to $1.403B.
• Non-GAAP EPS is now expected from $1.30 to $1.49 (was: $1.26 to $1.53).
• Key quote: "We are not able to predict whether inventory at our distributors will increase or decrease and are therefore providing a relatively broad range of revenue guidance."
• MCHP is up 0.8% after hours to $87.97.