Microchip sees Q3 EPS 25c-35c, consensus 46c

Sees Q3 revenue $1.03B-$1.1B, consensus $1.18B. Moorthy concluded, “For the December quarter, we expect net sales between $1.025 billion and $1.095 billion. While substantial inventory destocking has occurred, we continue to face macro uncertainties in what is historically our seasonally weakest quarter. Our design-in momentum continues to remain strong, driven by our Total System Solutions strategy and key market megatrends.”