Microchip Earnings: Cyclical Recovery Is Full Steam Ahead; Raising Fair Value to $80 From $71
Microchip Technology reported fiscal fourth-quarter revenue of $1.311 billion, up 35% year over year and above the high end of guidance. Microchip expects June-quarter revenue of $1.455 billion, up 35% year over year and above the FactSet consensus estimate of $1.34 billion.