Microchip Technology (NASDAQ:) shares were trading more than 3% higher after-hours following the company’s reported , with EPS of $1.35 coming in better than the consensus estimate of $1.25. Year-over year, revenue increased 25.7% to $1.84billion as compared with the consensus estimate $1.82billion.

According to company’s Q1/23 outlook, they expect EPS to be in the $1.32 to $1.36 range, which is lower than the consensus estimate of $1.28 and revenue to range from $1.918 to 1.992 billion, as opposed to $1.86 billion.

The company’s Board of Directors declared a quarterly cash dividend of $0.276 on its common stock, which represents a 33.7% year-over-year increase. This dividend is due on June 3, to stockholders with record dates of May 20, and will become payable in cash on June 3.

By Davit Kirakosyan