Microchip Technology Expects Q4 Earnings At High-end Of Projected Range

Microchip Technology Inc. late Monday said it expects its fourth-quarter adjusted earnings to come in at the high end of the range it projected earlier this year. It also expects to report record-high revenue. The chip maker in February had forecast earnings per share of 65 cents to 69 cents and revenue of $552 million and $568.5 million. The company is scheduled to report fourth-quarter results on May 4. Microchip also announced that it finalized the purchase of semiconductor maker Atmel and will consolidate results from the two companies in the future. Shares of Microchip were flat in the extended session after closing up 0.2% to $48.38.