Shares of Microchip Technology Inc. (NASDAQ:MCHP) ended Friday session in red amid volatile trading. The shares closed down -2.14 points or -3.53% at $58.52 with 215.29 million shares getting traded. Post opening the session at $60.16 the shares hit an intraday low of $58.32 and an intraday high of $60.38 and the price vacillated in this range throughout the day. The company has a market cap of $12.15 billion and the numbers of outstanding shares have been calculated to be 215.29 million shares.
Microchip Technology Inc. (MCHP) on Sept. 6, 2016 narrowed the range of its prior guidance for non-GAAP net sales and earnings per share for its fiscal second quarter of 2017 ending September 30, 2016. Microchip previously provided guidance on August 8, 2016 for consolidated non-GAAP net sales to be flat to up 4% with a mid-point of up 2%. Microchip now expects consolidated non-GAAP net sales to be up between 1% and 3% with a mid-point unchanged at 2% and non-GAAP earnings per share to be between 85 cents and 89 cents per share. The original guidance for non-GAAP earning per share was between 83 cents and 91 cents per share. Due to Microchip’s recent acquisition of Atmel and the related purchase accounting, Microchip is not able to provide GAAP guidance at this time.
“Our business through the first two months of the September 2017 quarter is tracking towards our August 8, 2016 guidance,” said Steve Sanghi, Microchip’s president and CEO. “The integration activities associated with our acquisitions of Atmel and Micrel continue to make significant progress. Micrel’s 6-inch fab in San Jose is on schedule to close in October 2016. Each of Atmel’s 8-bit microcontroller, 32-bit microcontroller, wireless and memory business units that have substantial overlap with Microchip’s business units are now fully integrated and each one is running as one business unit under a Microchip Vice President, with common roadmaps and Microchip’s pricing discipline.”
“We have also implemented a strong operating expense discipline at Atmel with non-GAAP operating expenses for the Atmel business in the September quarter expected to be about 30% of net sales, down from over 40% of net sales at the close of the acquisition,” concluded Mr. Sanghi.
Shares of Infinera Corp. (NASDAQ:INFN) ended Friday session in red amid volatile trading. The shares closed down -0.13 points or -1.49% at $8.60 with 143.19 million shares getting traded. Post opening the session at $8.68 the shares hit an intraday low of $8.50 and an intraday high of $8.87 and the price vacillated in this range throughout the day. The company has a market cap of $1.21 billion and the numbers of outstanding shares have been calculated to be 143.19 million shares.
On August 31, 2016 Infinera, a provider of Intelligent Transport Networks, unveiled the Xceed Software Suite (Xceed), a portfolio of integrated, open and modular software components for software defined networking (SDN) automation of Infinera programmable multi-layer transport networks. The new software suite, including the Xceed Multi-layer SDN Platform and Xceed Applications, enables service providers to create new revenue streams and reduce operational costs by driving higher network efficiency.
Service providers have begun using SDN within their data centers to automate networking of virtualized devices and functions, but have not yet been able to extend the same SDN automation to the metro and core networks that are foundational to their business. Meanwhile, traffic patterns in metro and core networks have become increasingly variable and unpredictable. Service providers are challenged to activate bandwidth, reconfigure network resources and adapt to application demand quickly using legacy systems and manual processes.
The Xceed Software Suite is designed to meet these challenges by delivering an open purpose-built multi-layer SDN platform and revenue-ready applications, leveraging the powerful scalability, flexibility and programmability of Infinera transport networks.
Purpose-built Platform: The Xceed Multi-layer SDN Platform delivers scalable SDN control across Infinera’s end-to-end Intelligent Transport Network portfolio spanning long-haul, metro and data center interconnect applications. The Xceed platform, built on the OpenDaylight open source SDN controller, incorporates Infinera-developed advanced microservices, such as the Xceed Multi-layer Path Computation Element (PCE) and a rich network abstraction layer incorporating Infinera’s proven Open Transport Switch (OTS) software. With a diverse range of open application programming interfaces (APIs), standards-based information models and open source components, the Xceed Multi-layer SDN Platform sets a new benchmark of openness to enable rapid application development and deployment.