Microchip Technology (MCHP Quick QuoteMCHP - Free Report) develops and manufactures microcontrollers, memory and analog and interface products for embedded control systems, which are small, low-power computers designed to perform specific tasks.

The company has five major product lines – Microcontrollers (66.5% of revenues at the end of third-quarter fiscal 2018), Memory products (4.8%), Analog, Interface and Mixed Signal Products (23.3%), Technology Licensing (2.8%) and Multi-market and Other (2.6%).

Zacks Rank: Currently, Microchip has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

However, that could change following Microchip’s fourth-quarter fiscal 2018 earnings report which has just released.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Microchip reported non GAAP earnings of $1.40 per share, which beat the Zacks Consensus Estimate by a nickel.

Revenues: Revenues of $1 billion also beat the Zacks Consensus Estimate and grew 11% year over year.

Key Stats: Microchip’s non GAAP operating margin in the quarter was 39.5%, which expanded 390 basis points (bps).

Stock Price: Shares were up almost 2% in pre-market trading.
 

Check back later for our full write up on this MCHP earnings report later!

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