Microchip Technology (MCHP) shares surged 10.93% in after-hours trading after the company reported fiscal first-quarter results that handily beat analyst estimates and offered strong forward guidance.

The semiconductor company posted adjusted earnings of $0.76 per share, surpassing the consensus estimate of $0.69 by 10.14%, while revenue of $1.485 billion exceeded the $1.458 billion forecast. Both figures represented substantial year-over-year growth, with EPS climbing 181.48% and sales rising 38.08%. In addition, Microchip guided for second-quarter net sales of $1.589 billion to $1.618 billion and adjusted EPS of $0.91 to $0.95, both ahead of market expectations. The robust results were accompanied by the declaration of a quarterly cash dividend of 45.5 cents per share.

The combination of an earnings beat, a positive outlook, and a consistent shareholder return policy fueled a sharp post-market rally in the stock.