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CHANDLER, Ariz. - Microchip Technology Inc. (NASDAQ:MCHP), a technology company with a market capitalization of $37 billion and strong financial health indicators according to InvestingPro, has upgraded its TrustMANAGER platform with secure code signing and Firmware Over-the-Air (FOTA) update capabilities to help manufacturers meet evolving cybersecurity regulations, according to a press release statement.
The enhanced platform now includes remote management of firmware images, cryptographic keys and digital certificates, supporting compliance with the European Cyber Resilience Act (CRA), which mandates cybersecurity measures for digital products sold in the European Union. The company’s innovation comes amid strong market performance, with InvestingPro data showing a 21% year-to-date return and 9 analysts revising earnings estimates upward for the upcoming period.
The ECC608 TrustMANAGER, which uses Kudelski IoT’s keySTREAM Software as a Service, is designed to store and manage cryptographic keys and certificates. With the addition of FOTA services, manufacturers can deploy real-time firmware updates remotely to address vulnerabilities.
"As evolving cybersecurity regulations require connected device manufacturers to prioritize the implementation of mechanisms for secure firmware updates, lifecycle credential management and effective fleet deployment," said Nuri Dagdeviren, corporate vice president of Microchip’s security products business unit.
The company also announced that its WINCS02PC Wi-Fi network controller module used in the TrustMANAGER development kit is now certified against the Radio Equipment Directive (RED), which establishes standards for radio devices in the EU. Starting August 1, 2025, all wireless devices sold in the EU market must comply with RED cybersecurity provisions.
The TrustMANAGER platform is compatible with the MPLAB X Integrated Development Environment and supported by Microchip’s CryptoAuth PRO development board and the CryptoAuthLib software library.
The solution targets IoT device manufacturers and industrial automation providers seeking to address security challenges, regulatory compliance, and device lifecycle management. With a healthy current ratio of 2.59 and strong dividend history spanning 24 consecutive years, Microchip demonstrates financial stability in supporting its technological initiatives. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, Microchip Technology has been the focus of several analyst updates and product announcements. The company has seen its price target raised by Truist Securities to $64 from $52, maintaining a Hold rating, as they anticipate a faster recovery in gross profit margins based on recent guidance and industry feedback. Cantor Fitzgerald initiated coverage with a neutral rating and a $70 price target, noting potential gross margin expansion as a positive development. Meanwhile, JPMorgan reiterated an Overweight rating with a $70 price target, highlighting strong cyclical recovery trends and improved bookings that could boost gross margins.
Evercore ISI also maintained an Outperform rating with a $69 price target, citing optimism from investor meetings and potential for margin expansion. In addition to these analyst activities, Microchip Technology launched new Digital Signal Controller families aimed at enhancing energy efficiency in AI servers and other applications. These controllers are designed with advanced features for precise control and comply with key safety standards, making them suitable for automotive and industrial uses. The developments indicate that Microchip Technology is actively pursuing growth opportunities amid a recovering semiconductor market.
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