Benzinga | Feb 4, 2021 04:45PM EST

Microchip Technology: Q3 Earnings Insights

Shares of Microchip Technology (NASDAQ:MCHP) rose 1.4% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 22.73% over the past year to $1.62, which beat the estimate of $1.58.

Revenue of $1,352,000,000 up by 5.05% from the same period last year, which missed the estimate of $1,360,000,000.

Outlook

Microchip Sees Q4 Adj. EPS $1.67-$1.79 vs $1.43 Estimate

Details Of The Call

Date: Feb 04, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/j6wwitht

Price Action

52-week high: $155.36

Company's 52-week low was at $53.15

Price action over last quarter: Up 13.25%

Company Overview

Microchip became an independent company in 1989 when it was spun off from General Instrument. More than half of revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door openers to power windows in autos. The company's strength lies in lower-end 8-bit MCUs that are suitable for a wider range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and analog chips as well.