$MCHP Microchip Technology to challenge All Time Highs
Source SeekingAlpha
Microchip (NASDAQ:MCHP) +6% now expects FQ1 consolidated net sales in the range of $1.247B to $1.326B from the prior $1.194B to $1.3B.
Non-GAAP EPS in the range of $1.35 to $1.53 (prior: $1.25 to $1.45).
Steve Sanghi, CEO: “With two months of the quarter behind us, our business is performing better than we expected during our May 7, 2020 earnings conference call. COVID-19 related supply chain disruptions which were primarily in Malaysia and Philippines have eased. We have begun to make up for lost production and expect to continue to gain ground through the end of this quarter.”