Microchip estimates that non-GAAP revenue for the quarter will increase by 1-6% to $10.12-10.62 billion (with a median of $1.037 billion), and non-GAAP diluted earnings per share will be between $1.39-1.49 (middle ($1.44). According to Zacks Investment Research, analysts originally expected Microchip’s revenue for the first quarter, with non-GAAP diluted earnings per share of US$1.03 billion and US$1.43.
Microchip Chief Executive Officer Steve Sanghi pointed out that net sales, gross profit, and profit and utilisation in fiscal year 2018 have hit a record high, and the volume of orders for the entire volume has reached the highest level in history.
Microchip's chief operating officer Ganesh Moorthy pointed out that in the fourth quarter of fiscal year 2018, net sales of microcontrollers increased 12.2% year-on-year to $657.3 million. He also mentioned that according to data released by Gartner Dataquest, January-December 2017 of Microchip Micro The sales growth rate of the controller ranks the highest in the market, with an increase of almost 2.5 times the average level of the industry.
Moorthy also mentioned that analog IC sales reached a record $242.3 million in the fourth quarter of fiscal 2018, accounting for 24.5% of revenue.
Sanghi pointed out that the Microsemi Corporation merger and acquisition case had been approved by the U.S. and Japanese antitrust regulators on April 12, 2018 and May 7, respectively.
Thomson Reuters reported on May 8 that Microchip said it could not confirm whether the 'Chinese Ministry of Commerce has approved the Microsemi acquisition’ media report is true.
The Philadelphia semiconductor index component Microchip (MCHP.US) rose 2.15% to close at $90.65 on May 8. It reached a record high since March 29, the highest gain among the 30 constituent stocks on that day; it has risen 3.15% so far this year.