Microchip Technology (MCHP) rises 9.4% premarket after earnings beat and raised guidance
ByAinvest Wire
Friday, Aug 7, 2026 4:21 am ET1min read
MCHP--
Microchip Technology (MCHP) shares rose approximately 9.4% in premarket trading after the company reported a significant beat on Q1 FY2027 earnings and raised Q2 guidance. The chipmaker posted net sales of $1.485 billion, up 38% year-over-year, and Non-GAAP EPS of $0.76, surpassing estimates. Management cited strong demand in AI data centers and a recovery in industrial and automotive sectors as key drivers.
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