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Microchip Technology Inc. (MCHP): Q3 2020 Earnings Snapshot

Microchip Technology Q3 2020 earnings snapshot

—  Microchip Technology Incorporated (NASDAQ: MCHP) reported earnings of $1.32 per share in the third quarter of 2019, vs. $1.26 per share expected. 

— Total revenue fell 6.4% to $1.29 billion, vs. $1.28 billion expected. 

— End-market demand for microcontroller business was down 1.1%, for analog business was down 3.6% and for FPGA business was flat compared to the September 2019 quarter.  

— For the fourth quarter, Microchip expects net sales between $1.313 billion and $1.403 billion. Adjusted EPS for this period is projected to be $1.35 to $1.51.

— MCHP shares were down 0.41% immediately following the announcement. 

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