Microchip Technology Incorporated set December-quarter net sales guidance at $1.573 billion to $1.638 billion, a range that would put revenue between 3% below and 1% above the September quarter.
In its Nov. 5 earnings release, the company put the midpoint 1% below September-quarter net sales, which came to $1.622 billion. The December-quarter guidance pairs a 64% to 65% non-GAAP gross margin with diluted non-GAAP EPS of $0.87 to $0.95.
Microchip said sales in its December quarter typically decline 3% to 5% from the prior quarter. About $53 million of September-quarter sales came from infrequent items that are not expected to recur in December. The company said its current guidance midpoint is 5% to 7% above that usual seasonal pattern.
Microchip also said lead times are lengthening and that it is working to expand capacity and secure wafer allocations. The outlook follows EconoTimes’ earlier coverage of the December-quarter forecast.
