Microchip Technology Shares Dip After Company Narrows EPS Outlook

By Sue Chang Markets MarketWatch Pulse

Shares of Microchip Technology Inc. fell in Tuesday's extended session after the chip maker narrowed its earnings-per-share outlook. Microship said it now expects third-quarter adjusted EPS in a range of 87 cents to 94 cents from 85 cents to 95 cents previously. Analysts surveyed by FactSet are projecting the company to earn 90 cents a share. It also forecast third-quarter adjusted revenue to fall by about 3% versus flat to down 6% it announced in early November. Microchip shares slid 0.4% after hours.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.