Microchip Technology Inc. shares rallied in the extended session Tuesday after the electronics component maker’s quarterly results and outlook topped Wall Street estimates. Microchip Technology shares surged 6% to $81 after hours. The company reported adjusted fiscal fourth-quarter earnings of $1.16 a share on revenue of $902.7 million. Analysts surveyed by FactSet had estimated earnings of $1.06 a share on revenue of $891.1 million. For the fiscal first quarter, Microchip Technology sees adjusted earnings of $1.17 to $1.27 a share on revenue of $920.7 million to $965.9 million. Analysts had estimated $1.11 a share on revenue of $913.1 million.
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