Microchip Shares Gain 3% Following Q4 Beat and Raise

Microchip Technology (NASDAQ: MCHP) shares were trading more than 3% higher after-hours following the company’s reported Q4 results, with EPS of $1.35 coming in better than the consensus estimate of $1.25. Revenue grew 25.7% year-over-year to $1.84 billion, compared to the consensus estimate of $1.82 billion.

The company provided its Q1/23 outlook, expecting EPS in the range of $1.32-$1.36, compared to the consensus of $1.28, and revenue in the range of $1.918-1.992 billion, compared to the consensus of $1.86 billion.

The company’s Board of Directors declared a quarterly cash dividend of $0.276 on its common stock, which represents a 33.7% year-over-year increase. It is payable on June 3 to stockholders of record on May 20.

By Davit Kirakosyan

You May Also Be Interested In

• American Express Q3 earnings preview: stronger print expected on resilient spending
• Microchip Adds the LX-820 Quartz Oscillator to its L-Series Timing Portfolio Developed for Low Earth Orbit Applications
• Microchip Technology (MCHP) PT Lowered to $98 at B.Riley