Microchip Technology beats earnings and revenue estimates for Q2

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Microchip Technology Intrinsic Value – Microchip Technology ($NASDAQ:MCHP) Inc. reported better-than-expected second-quarter results on Thursday, driven by strong demand for its chips used in cars and industrial equipment. The company posted non-GAAP earnings of $1.46 per share, beating analysts’ estimates of $0.02 per share. Revenue came in at $2.07 billion, also ahead of expectations of $10 million.

Looking ahead to the third quarter, Microchip Technology said it expects net sales to be in the range of $2.135 billion to $2.177 billion, compared to the consensus estimate of $2.08 billion. Non-GAAP earnings are expected to be in the range of $1.54 to $1.56 per share, compared to the consensus estimate of $1.45 per share.

Stock Price

Microchip Technology reported better-than-expected earnings and revenue for the second quarter on Thursday, sending shares higher in premarket trading. Microchip Technology’s guidance for the third quarter was also better than expected. Shares of Microchip Technology were up about 4% in premarket trading on Thursday.

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Microchip Technology Inc is a publicly traded company that designs, develops, and manufactures semiconductor products for a variety of embedded control applications. The company offers microcontrollers, development tools, analog and interface products, wireless and wired connectivity products, memory products, and digital power products. It serves customers in the automotive, communications, computing, consumer, and industrial markets. The company was founded in 1987 and is headquartered in Chandler, Arizona.

Globetronics Technology Bhd is a Malaysia-based company that provides semiconductor assembly and test services. It offers a range of services, including wafer fabrication, wafer probing, final test, packaging, and others. The company serves customers in the automotive, communications, computing, consumer, and industrial markets.

Wafer Works Corp is a Taiwan-based company that provides wafer foundry services. It offers a range of services, including wafer fabrication, final test, and packaging. The company serves customers in the automotive, communications, computing, consumer, and industrial markets.

Skyworks Solutions Inc is a publicly traded company that designs, develops, and manufactures semiconductor products for a variety of radio frequency (RF) and microwave applications. The company offers a range of products, including amplifiers, attenuators, circulators, detectors, diodes, directional couplers, mixers, modulators, oscillators, phase shifters, power dividers/combiners, receivers, switches, and transmitters. It serves customers in the automotive, communications, computing, consumer, industrial, medical, military, and aerospace markets.

– Globetronics Technology Bhd ($KLSE:7022)

Globetronics Technology Bhd is a Malaysian-based company that designs, manufactures and supplies precision sensors, optical and electronic products. The company has a market cap of 696.22M as of 2022 and a Return on Equity of 11.73%. Globetronics Technology Bhd’s products are used in a variety of industries including automotive, healthcare, consumer electronics and industrial.

– Wafer Works Corp ($TPEX:6182)

Wafer Works Corp is a leading provider of semiconductor wafers with a market cap of 21.1B as of 2022. The company has a return on equity of 16.27%. Wafer Works Corp is a leading provider of semiconductor wafers used in the manufacture of integrated circuits. The company’s wafers are used in a variety of electronic devices, including computers, cell phones, and other electronic devices.

– Skyworks Solutions Inc ($NASDAQ:SWKS)

Skyworks Solutions Inc is a company that manufactures radio frequency and microwave semiconductor products. The company has a market cap of 13.11B as of 2022 and a ROE of 25.56%. The company’s products are used in a wide variety of wireless communication applications, including smartphones, tablets, laptops, and other mobile devices.

Summary

Investing in Microchip Technology may be a good idea for investors who are looking for a company that beats earnings and revenue estimates. The company has a good history of doing so, and it also has a strong product lineup that includes microcontrollers, digital signal controllers, and analog mixed-signal devices. Microchip Technology is a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality.