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Dec. 3, 2019, 5:09 p.m. EST

Microchip Technology stock rises after missing revenue exepctations

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By Max A. Cherney

Microchip Technology Inc. /zigman2/quotes/208326291/composite MCHP -2.19% shares rose 2.8% in the extended session Tuesday after the company reported revenue that missed analyst estimates. The company reported fiscal second-quarter net income of $108.9 million, which amounts to 43 cents a share, versus net income of $96.3 million, or 38 cents a share, in the year-ago quarter. Adjusted for amortization of intangible assets and stock-based compensation, among other items, earnings were $1.43 a share. Revenue fell to $1.34 billion to $1.43 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $1.43 a share on sales of $1.35 billion. For the fiscal third quarter, analysts estimate adjusted earnings of $1.22 a share on sales of $1.26 billion. Microchip Technology said it expects third-quarter adjusted earnings of $1.12 to $1.32 a share on sales of $1.2 billion to $1.31 billion. Microchip Technology stock has gained 28% this year, with the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.29% rising 24%.

/zigman2/quotes/208326291/composite
US : U.S.: Nasdaq
$ 106.96
-2.40 -2.19%
Volume: 1.10M
Feb. 18, 2020 4:00p
P/E Ratio
42.26
Dividend Yield
1.37%
Market Cap
$26.20 billion
Rev. per Employee
$352,817
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/zigman2/quotes/210599714/realtime
US : S&P US
3,370.29
-9.87 -0.29%
Volume: 1.91B
Feb. 18, 2020 5:43p
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