Microchip Tech (MCHP) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Microchip Technology (MCHP) reported a revenue of $1.16 billion for the quarter ended September 2024, reflecting a year-over-year decline of 48.4% and an EPS of $0.46 compared to $1.62 a year ago, with a revenue surprise of +1.09% over the Zacks Consensus Estimate [1] Financial Performance - Net Sales for Mixed-signal Microcontrollers were $594.60 million, slightly above the seven-analyst average estimate of $590.98 million, but represented a year-over-year decline of 53.6% [3] - Net Sales for Other categories reached $277.10 million, exceeding the seven-analyst average estimate of $249.12 million, with a year-over-year decline of 21.1% [3] - Net Sales for Analog products were reported at $292.10 million, below the average estimate of $311.56 million from seven analysts, indicating a year-over-year change of -53.1% [3] Stock Performance - Over the past month, shares of Microchip Technology have returned -2.6%, compared to a -0.5% change in the Zacks S&P 500 composite, with the stock currently holding a Zacks Rank 4 (Sell), suggesting potential underperformance against the broader market in the near term [4]