Microchip Technology Analysts Slash Their Forecasts After Q2 Results - Microchip Technology (NASDAQ:MCHP)

Benzinga · Avi Kapoor · 2026-11-06 13:02 UTC

Microchip beat Q2 earnings and sales estimates but guided Q3 below forecasts. Shares fell 2.1%; analysts cut price targets despite Buy/Overweight calls.

Microchip Technology Inc (NASDAQ:MCHP) on Thursday reported upbeat second-quarter financial results and issued third-quarter guidance with its midpoint below estimates.

Microchip Technology reported quarterly earnings of 97 cents per share which beat the analyst consensus estimate of 93 cents per share. The company reported quarterly sales of $1.622 billion which beat the analyst consensus estimate of $1.607 billion.

Microchip Technology said it sees third-quarter adjusted earnings of 87 cents-95 cents per share, versus market estimates of 94 cents per share. The company sees sales of $1.573 billion-$1.638 billion, versus estimates of $1.624 billion.

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