financetom
Business
financetom
/
Business
/
Microchip Tech forecasts quarterly profit below estimates as memory shortages bite
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Microchip Tech forecasts quarterly profit below estimates as memory shortages bite
Mar 11, 2026 3:11 AM

Feb 5 (Reuters) - Chipmaker Microchip Technology forecast fourth-quarter profit below Wall Street estimates on Thursday, raising concerns about the impact of a ‌memory-supply crunch on the wider semiconductor industry.

Shares ​of the Chandler, Arizona-based company fell more ‍than 5% in extended ⁠trading.

A global ⁠shortage of memory supply has hammered the personal ‌electronics industry, forcing smartphone ​makers and personal computer providers to cut back on orders ⁠as they struggle ‍to ​ship finished products, hurting suppliers such as Microchip.

Microchip expects adjusted earnings of ‍about 40 cents per share for the fourth quarter, compared with analysts' average estimate of 48 cents per share, according to data compiled ​by ‍LSEG.

It expects net sales in the range of $1.24 billion to $1.28 billion ​for the fourth quarter, compared with an estimate of $1.23 billion.

The company reported net sales of $1.19 billion for the third quarter, beating the $1.18 billion estimate.

Excluding items, third-quarter profit per ​share came in at 44 cents, while analysts expected 41 cents per share.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
What's Going On With Commerce Company Liquidity Services Stock Today?
What's Going On With Commerce Company Liquidity Services Stock Today?
Feb 3, 2025
Shares of Liquidity Services, Inc. ( LQDT ) , a prominent player in global commerce focused on the circular economy, are trading lower in premarket trading on Monday. The company announced the acquisition of Auction Software/Simple Auction Site. Terms of the transaction were not disclosed. Founded by Rajesh Rajaram in 2015, Auction Software has created auction and marketplace platforms for various...
German American Bancorp Finalizes Heartland BancCorp Merger
German American Bancorp Finalizes Heartland BancCorp Merger
Feb 3, 2025
09:26 AM EST, 02/03/2025 (MT Newswires) -- German American Bancorp ( GABC ) said Monday it completed its merger with Heartland BancCorp, parent of Heartland Bank, merging Heartland Bank into German American Bank. Heartland shareholders received 3.90 German American shares for each Heartland share, while 401(k) plan participants were paid $161.19 per share in cash, German American said, adding that...
Lockheed Martin Delivers First F-16 Block 70 Aircraft to Bulgaria
Lockheed Martin Delivers First F-16 Block 70 Aircraft to Bulgaria
Feb 3, 2025
09:28 AM EST, 02/03/2025 (MT Newswires) -- Lockheed Martin ( LMT ) said Monday that it has delivered its first F-16 Block 70 jet to Bulgaria. The company said Bulgaria has ordered a total of 16 jets as part of the country's efforts to upgrade its air force. Lockheed Martin ( LMT ) said it has a backlog of 117...
Arthur J. Gallagher Acquires Dominick Falcone Agency, Falcone Associates
Arthur J. Gallagher Acquires Dominick Falcone Agency, Falcone Associates
Feb 3, 2025
09:26 AM EST, 02/03/2025 (MT Newswires) -- Arthur J. Gallagher ( AJG ) said Monday that it has acquired Dominick Falcone Agency and Falcone Associates for an undisclosed amount. Dominick Falcone Agency provides property/casualty insurance products, while Falcone Associates provides employee benefits services, according to the company. Arthur J. Gallagher ( AJG ) Chief Executive Officer Patrick Gallagher Jr. said...
Copyright 2023-2026 - www.financetom.com All Rights Reserved