Why Is Microchip Technology Stock Diving Premarket Friday? Why Is Microchip Technology (MCHP) Stock Diving Premarket Friday? - Microchip Technology (NASDAQ:MCHP)
Microchip Technology (MCHP) faces Q3 challenges with a notable 18.6% YoY sales dip at $1.766 billion. CEO Ganesh Moorthy addresses weaker demand impacting shipments and extended shutdowns. While delivering a beat in adjusted EPS at $1.08, the company experiences a 3.74% stock decline. Amidst these hurdles, Microchip adapts by reducing debt, initiating buybacks, and boosting dividends by 25.7%.
Source: benzinga.com
