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Microchip Technology Inc. (MCHP) reported third-quarter fiscal 2017 adjusted earnings of $1.00 per share, which beat the Zacks Consensus Estimate by 19 cents.
Microchip Technology Inc. reported increased sales and earnings for its third quarter due to successful acquisitions. Microchip (MCHP), the Chandler-based semiconductor manufacturer, reported net income of $107.2 million, or 46 cents per share, on revenue of $834.4 million for the quarter ended Dec. 31. “As a result of the ‘go live’ of our business system integration for Atmel on January 1, 2017, several of our customers requested early shipment of their product that was originally requested to be delivered in the early part of January,” Sanghi said.
It was a year for many big acquisitions in the Valley’s tech scene, from GoDaddy acquiring three more companies to expand its services, to ON Semiconductor finally closing on the long-awaited Fairchild acquisition. Scottsdale-based GoDaddy Inc. (GDDY) acquired three new companies this year, bringing it to 18 acquisitions, including buying Host Europe Group, the largest privately owned web services provider in Europe for $1.79 billion. “GoDaddy has successfully expanded its international business to 56 global markets over the past four years,” GoDaddy CEO Blake Irving said in a statement.