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US Stocks on the Move丨Microchip Technology Rises Over 8% to Hit a More Than 5-Month High, Raises Net Sales Forecast for Third Fiscal Quarter
1 week ago /
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Author：小编
Shares of Microchip Technology (MCHP.US) surged over 8% at one point, reaching a high of $72.5, a more than 5-month high. The company raised its net sales forecast for the third fiscal quarter to approximately $1.19 billion, higher than analysts' expectations on Wall Street. Chief Executive Officer Steve Sanghi attributed the raised forecast to a recovery in end markets, inventory adjustments, strong order volumes in the December quarter, and the smooth execution of the company's recovery plan.
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