CHANDLER, Ariz. – Microchip Technology Inc . (NASDAQ:MCHP), a $31.3 billion semiconductor company currently trading near its 52-week low, has launched the MTCH2120 touch controller, the latest addition to its portfolio of turnkey touch solutions, providing designers with a simplified way to integrate touch button functionality into user interfaces. The MTCH2120 is designed to be low-power and water-tolerant, supporting a seamless design transition from mechanical buttons to modern touch interfaces. According to InvestingPro data, while the company faces near-term headwinds with analysts anticipating sales decline, it maintains strong fundamentals with a 60.3% gross profit margin.
The new device is the first in a family of I2C-based touch controllers that are part of Microchip's unified ecosystem, which aims to ease the design process for developers. The MTCH2120 promises a robust touch experience that is unaffected by noise and moisture. It also offers adaptability to meet specific product requirements and features that allow for power conservation by grouping buttons to reduce scan activity.
Microchip's MTCH2120 includes several features to aid developers, such as the Easy Tune feature that automatically adjusts sensitivity and filters based on real-time noise assessment, eliminating the need for manual threshold tuning. It also integrates with Microchip's MPLAB Harmony (JO:HARJ) Host Code Configurator plug-in to simplify the connection to Microchip MCUs and MPUs and provide design validation through MPLAB Data Visualizer.
The MTCH2120 evaluation board comes equipped with a SAM C21 host MCU, allowing for immediate integration into prototypes. This launch follows the release of the MTCH1010, MTCH1030, and MTCH1060, which offer similar touch performance with a General-Purpose Input/Output (GPIO) interface.
Microchip's MTCH2XXX family is set to expand with more solutions that offer bus-controlled flexibility, extending the ease of use provided by the design-in ecosystem to additional markets. The MTCH2120 and other turnkey touch solutions are available for purchase through Microchip sales representatives or authorized worldwide distributors.
Microchip Technology, renowned for its smart, connected, and secure embedded control solutions, serves a broad range of markets, including industrial, automotive, consumer, aerospace and defense, and more. The company is known for its strong technical support, reliable delivery, and quality products. For more information on Microchip's turnkey touch solutions, including the MTCH2120, interested parties can visit the company's website.
This news is based on a press release statement from Microchip Technology Inc.
In other recent news, Microchip Technology has revised its revenue outlook for the December quarter to approximately $1.025 billion, citing slower-than-expected turn orders. The company also announced plans to close its Tempe wafer fabrication facility, a move expected to yield annual cost savings of around $90 million starting mid-2026. Amid these changes, Steve Sanghi, the company's CEO, has committed to his role indefinitely to ensure stability.
In response, several analyst firms, including Needham, Stifel, and KeyBanc Capital Markets, have maintained their positive ratings on Microchip. Needham sustains its buy rating and $85.00 price target, while Stifel recalibrated the 12-month price target to $87, and KeyBanc Capital Markets reduced its price target to $90 from $95, all while maintaining an Overweight rating.
Citi also reaffirmed its Buy rating on Microchip Technology with a price target of $82.00, expressing confidence in the company's resilience despite the revised revenue outlook and impending restructuring. These recent developments highlight Microchip's proactive measures to manage its financial outlook amidst challenging market conditions.
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