05:28 PM EDT, 05/29/2025 (MT Newswires) -- Microchip Technology ( MCHP ) said late Thursday it adjusted its fiscal Q1 non-GAAP earnings guidance to $0.22 to $0.26 per diluted share from $0.18 to $0.26 earlier.

Analysts polled by FactSet expect $0.22.

The company said it now expects sales for the quarter ending June 30 to be $1.05 billion to $1.07 billion from $1.03 billion to $1.07 billion earlier.

Analysts surveyed by FactSet expect $1.04 billion.

"Our bookings activity for the month of May is tracking to be higher than any month in the last two years," Chief Executive Steve Sanghi said in a statement.

Shares of the company were up 1.6% in after-hours activity.

Price: 59.02, Change: +0.91, Percent Change: +1.57