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Is Microchip Technology Stock Worth Considering Right Now?

On May 14, 2014, I wrote an article about Microchip Technology (MCHP) describing the company and recommending the stock. In this article, I will give some update information about the stock.

On January 29, Microchip reported its third-quarter fiscal 2015 financial results, which beat EPS expectations by $0.02 (3.23%) and beat The Street's consensus on revenues. Moreover, net sales of $535.8 million were better than the midpoint of Microchip's improved guidance from December 02, 2014.

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In the report, Steve Sanghi, President and CEO said:

We are very pleased with our execution in the December quarter. Our original revenue guidance was to be down 4.5% sequentially and in early December we improved our guidance for revenue to be down only 3.5% at the midpoint. Our actual non-GAAP revenue results were down only 1.9%, which was better than what is seasonally normal. Calendar year 2014 was Microchip's first year