Microchip Technology Incorporated shares rose 10.2% to $73.93 in midday trading on Tuesday after the chipmaker lifted its fiscal third-quarter net sales outlook in a late-Monday update. The company now expects net sales of about $1.185 billion for the quarter ended Dec. 31, 2025, above its earlier $1.109 billion to $1.149 billion forecast, and said it would not hold a conference call on the update, with full results due Feb. 5. CEO Steve Sanghi said “our bookings activity was very strong in the December quarter,” referring to new orders, and the company pointed to a stronger March-quarter opening backlog, or unfilled orders, as it ramps factories to cut under-utilization charges, a cost of running plants below capacity. Microchip Technology Incorporated
