- Microchip (NASDAQ:MCHP) forecasts $1.281-1.288B in net sales for Q3, up from the $1.244-1.298B guided last month.
- The company attributes the increase to strong bookings in December, which led to better than expected billings for the December quarter and improved backlog for the March quarter.
- MCHP shares are up 4% after hours to $107.92.
- Update: Microchip peers ON Semi (NASDAQ:ON) and Texas Instruments (NASDAQ:TXN) are up 2.2% and 2%, respectively, at nearly 5 PM.
Microchip +4% on raised Q3 outlook
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Symbol | Last Price | % Chg |
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MCHP | - | - |
Microchip Technology Incorporated |