Microchip's Strong Q3 Sales Forecast Drives Share Gains

14 days ago

"Taking a look at Microchip today as well. So, ticker MCHP, those shares soaring up more than 8% now. So, extending opening gains and that is because we did get a net sales forecast for them for the third quarter. That beat the average analyst estimate. The company is looking at $1.19 billion for the period versus the average estimate of $1.14 billion. They also said that bookings activity was very strong in December and Morgan Stanley analysts expecting the company's estimates to rise again in 2026 but probably less likely for 2027. Meanwhile, Caner upgrading the stock to overweight from neutral. So, a lot of uh good news to be had from Extra."

The insight highlights Microchip's robust performance as shares jump over 8% on a strong Q3 net sales forecast that exceeded analyst expectations. The focus is on the company's promising sales numbers for the third quarter and further potential upgrades, suggesting a positive near-term outlook.

Related Stocks