Microchip Technology shares are trading lower after the company reported worse-than-expected Q2 net sales results and issued Q3 adjusted EPS and net sales guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Microchip Technology reported lower than expected Q2 net sales and issued Q3 adjusted EPS and net sales guidance below estimates, causing its shares to trade lower.
November 02, 2023 | 8:51 pm
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NEGATIVE IMPACT
Microchip Technology's shares are trading lower due to disappointing Q2 sales and lower than expected Q3 guidance.
Microchip Technology's lower than expected Q2 sales and Q3 guidance have negatively impacted investor sentiment, leading to a decrease in the company's share price. This suggests a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100