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Microchip Technology stock rises after missing revenue exepctations

“Microchip Technology stock has gained 28% this year, with the S&P 500 index SPX, -0.66% rising 24%” writes Max A for Microchip Technology said it expects third-quarter adjusted earnings of $1.12 to $1.32 a share on sales of $1.2 billion to $1.31 billion.Analysts surveyed by FactSet had estimated adjusted earnings of $1.43 a share on sales of $1.35 billion.

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