Microchip Technology Inc. (NASDAQ:MCHP) was one of the top performers on Tuesday, with a stock price increase of 11.65 percent to close at $74.87 apiece. The company hinted at exceeding its net sales guidance for the third quarter of fiscal year 2026 and posted a positive outlook for the calendar year. Preliminary results show Microchip Technology Inc. expects to record $1.185 billion in net sales for the period ending December 31, 2025, surpassing previous guidance. President and CEO Steve Sanghi expressed optimism for the company’s future and official results are scheduled for release on February 5, 2026.

Read more at Yahoo Finance: Microchip Technology (MCHP) Surges 11.6% on Net Sales Beat, Bright Outlook