Microchip Technology raises Q3 revenue forecast on strong bookings

Core Viewpoint - Microchip Technology has raised its expectations for third-quarter net sales due to recovery across end markets and strong bookings, resulting in a 5.6% increase in shares during after-hours trading [1] Group 1: Company Performance - The company has increased its net sales expectations for the third quarter, indicating positive momentum in its business operations [1] - Strong bookings have contributed significantly to the improved outlook, suggesting robust demand for Microchip Technology's products [1] Group 2: Market Reaction - Following the announcement, shares of Microchip Technology rose by 5.6% in after-hours trading, reflecting investor confidence in the company's performance and future prospects [1]