Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

Banc of America Cuts Microchip Outlook


Banc of America cut estimates on Microchip Technology (MCHP).

Analyst Douglas Lee cut the $0.85 fiscal 2002 (March.) EPS estimate to $0.72, and reduced the $1.01 fiscal 2003 estimate to $0.96. Microchip expects total revenue to decline a further 10% sequentially in Q1. He notes demand remains weakest in the EEPROM business (20% of sales), where excess inventories and pricing pressure should continue in the near term. The company's core microcontroller business (72% of revenues) appears to be faring better, and it's expected to be down less than the company average in Q1.

Lee says visibility remains poor, but order cancellations and push-out rates have been decelerating as of late. He maintains the market performer rating.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus