Microchip (MCHP) PT, Est. Cut at Susquehanna Amid Q2 Warning
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Go back to Microchip (MCHP) PT, Est. Cut at Susquehanna Amid Q2 Warning
October 10, 2014 7:27 AM EDT
Needham & Company downgraded Microchip Technology (NASDAQ: MCHP) from Buy to Hold following the company's negative pre-announcement.
Analyst Rajvindra S. Gill comments, "MCHP negatively revised its revenue guidance for the upcoming quarter and issued bearish commentary, suggesting the beginning of an inventory correction... More
October 9, 2014 4:25 PM EDT
Microchip Technology (NASDAQ: MCHP) announced that it expects net sales for its second quarter of fiscal 2015 ending September 30, 2014 to be about $546.2 million, which includes about $16.9 million from the recent ISSC acquisition. On July 31, 2014, Microchip provided guidance of net sales to be $560.0 million to $575.9 million which included $18 million from the ISSC acquisition. Excluding the ISSC acquisition, Microchips net sales in the September 2014 quarter are expected to be $529.3 million, which is down 0.4% sequentially on a non-GAAP basis and up 0.1% on a GAAP basis. There is no difference in GAAP and non-GAAP net sales in the September... More
