Microchip Technology (MCHP) raises Q3 net sales guidance to $1.185 billion, above initial estimates. Earnings guidance remains at 40 cents per share. Strong bookings and market recovery drive optimism. MCHP shares up 9%. Zacks estimates 11.5% YoY sales increase and 90% YoY earnings jump. AI investments and restructuring plan boost prospects.

Microchip Technology benefits from AI investments, sees growth in data center products. Launches industry’s first 3-nanometer-based PCIe Gen 6 switch for modern AI infrastructure. Restructuring plan closure of Fab 2 operations, transferring technologies to Fab 4 and Fab 5. Right-sizing effort to save $25 million annually. Zacks Rank #3 (Hold).

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Read more at Nasdaq: MCHP Raises Q3 Net Sales Guidance, Shares Rise on Improving Prospects