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Microchip Technology updates guidance

Microchip Technology Inc. issued updated guidance on its net sales and non-GAAP EPS for the first quarter of 2019, following the completion of its Microsemi Corp. acquisition.

The U.S. semiconductors company now projects non-GAAP net sales for the quarter to increase by 17% to 24%, up from its previous guidance of 1% to 6%. It expects Microsemi to contribute $160 million to $180 million worth of net sales.

Microchip also expects non-GAAP EPS to be between $1.41 per share and $1.55 per share, up from its original guidance range of $1.39 to $1.49.