Microchip (MCHP) PT, Est. Cut at Susquehanna Amid Q2 Warning
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Needham & Company Downgrades Microchip Technology (MCHP) to Hold
October 10, 2014 7:27 AM EDTNeedham & 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
Microchip Technology (MCHP) Cuts Q2 Outlook
October 9, 2014 4:25 PM EDTMicrochip 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
