Microchip Technology falls after downbeat quarterly revenue forecast — TradingView News

** Shares of chipmaker Microchip Technology MCHP down 4.3% at $72 in extended trading

** MCHP forecasts Q3 net sales between $1.03 bln and $1.10 bln, vs analysts’ average estimates of $1.18 bln, according to data compiled by LSEG

** Expects Q3 adj. profit per share between 25 cents and 35 cents, vs estimates of 46 cents

** Posts Q2 net sales of $1.16 bln, marginally beating estimates of $1.15 bln

** MCHP has fallen 16.7% YTD