Microchip Technology Inc. (MCHP) on Monday reported a fiscal first-quarter loss of $113.4 million, after reporting a profit in the same period a year earlier.On a per-share basis, the Chandler, Arizona-based company said it had a loss of 53 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 84 cents per share.The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.The chipmaker posted revenue of $799.4 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $820.7 million.For the current quarter ending in October, Microchip Tech expects its per-share earnings to range from 83 cents to 91 cents.Late Tuesday's trading was up 7% at $60.63 and shares hit a new historical high of $61.97.I can't believe that the company have missed a revenue forecast, posted a loss and everyone is happy with adjusted results. Looks like company's accountants are much better in adjusting results than Wall Street analysts. :) Almost all banks have buy or overweight rating for the stock. Curiously, Goldman Sachs has sell rating. I have never thought I will agree with them. :) I would like to short the stock but I am not sure I will get courage to do it. $MCHP, Microchip Technology Incorporated / 1440