Microchip Results Beat in Q4 as Revenue Swells to Record on Strong Demand By Investing.com

By Yasin Ebrahim

Microchip (NASDAQ:MCHP) reported Thursday fiscal fourth-quarter results that that topped expectations as strong demand led to record booking and revenue in the quarter.

Microchip announced earnings per share of $1.85 on revenue of $1.47 billion. Analysts polled by Investing.com anticipated EPS of $1.74 on revenue of $1.46 billion.

Microchip shares are up 5% from the beginning of the year, still down 12.22% from its 52 week high of $166.67 set on February 17. They are under-performing the Nasdaq 100 which is up 5.63% from the start of the year.

The quarterly dividend declared of 41.3 cents per share, representing an increase of 5.9% from the prior quarter.

“March quarter revenue, non-GAAP gross margin, non-GAAP operating margin, non-GAAP EPS and EBITDA were all records, as every aspect of our business over-performed,” the company said.

Looking ahead to Q1, the company guided adjusted EPS in a range of $1.85-to-$1.95 on revenue of between $1.519 billion and $1.577 billion, above estimates for EPS of $1.81 on revenue of $1.5 billion.

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