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CHANDLER, Ariz. - Microchip Technology Inc . (NASDAQ:MCHP) has announced the launch of its new PIC64 series, marking the company’s expansion into the 64-bit microprocessor (MPUs) domain to cater to the growing needs of real-time, compute-intensive applications. This development positions Microchip as a comprehensive provider of MPUs, with the first product from the series, the PIC64GX, designed to enable intelligent edge computing across various sectors.
The PIC64GX is tailored for industries such as industrial, automotive, communications, Internet of Things (IoT), aerospace, and defense, where there is a need for power-efficient, secure, and reliable processing at the edge. This MPU features a 64-bit RISC-V quad-core processor capable of Asymmetric Multiprocessing (AMP (OTC:AMLTF)), which is essential for systems that require a mix of real-time and application-class processing.
The introduction of the PIC64GX MPU is part of Microchip’s strategy to address a broad spectrum of performance requirements across all market segments. The new family of MPUs is designed with pin-compatibility to Microchip’s PolarFire SoC FPGA devices, offering developers increased flexibility in embedded solutions design.
In addition to the PIC64GX, Microchip is also rolling out the PIC64 High-Performance Spaceflight Computing (PIC64-HPSC) family. These space-grade, multi-core RISC-V MPUs are intended to deliver a significant performance boost and enhanced radiation and fault tolerance for aerospace and defense applications. NASA’s Jet Propulsion Laboratory has selected Microchip for the development of an HPSC processor as part of its commercial partnership efforts, indicating the strategic importance of this new technology.
Microchip’s PIC64 portfolio is supported by a suite of development tools, including the PIC64GX Curiosity Evaluation Kit and integration with Microchip’s MPLAB Extensions for VS Code. The company also provides software support through Linux4Microchip resources and partnerships with Linux distributors like Canonical Ubuntu OS, the Yocto Project, and Buildroot.
The PIC64GX Curiosity Kit is currently available for designers to commence evaluation. With this move, Microchip becomes the only embedded solutions provider actively developing a full range of 8-, 16-, 32-, and 64-bit microcontrollers (MCUs) and MPUs, further cementing its position in the embedded processing market.
This announcement is based on a press release statement from Microchip Technology Inc.
In other recent news, Microchip Technology has made significant advancements in its product line and financial operations. The company announced the launch of its new PIC64 High-Performance Spaceflight Computing (PIC64-HPSC) microprocessors, designed to support the computational demands of global space missions. Microchip Technology also unveiled a new radiation-tolerant microcontroller, the SAMD21RT, tailored specifically for space applications.
In the financial realm, Microchip Technology has priced $1.1 billion in Convertible Senior Notes due in 2030, with the proceeds expected to be used to repay existing debt. Prior to this, the company had announced its plan to offer the same amount in Convertible Senior Notes.
Mizuho Securities has upgraded Microchip Technology's stock from Neutral to Buy, raising the price target to $115 from $85. The firm anticipates a turnaround for Microchip after a period of declining quarterly guidance and gross margins.
InvestingPro Insights
Microchip Technology Inc. (NASDAQ:MCHP) has been making strides in the semiconductor industry with its new product launches and steady financial performance. Here are some key insights based on real-time data and InvestingPro Tips:
- Microchip Technology has a market capitalization of $50.07 billion, reflecting its significant presence in the market.
- The company's Price-to-Earnings (P/E) ratio stands at 26.52, which aligns with its position as a prominent player in the Semiconductors & Semiconductor Equipment industry. This metric indicates investor expectations of future earnings growth, despite the anticipation of sales decline in the current year.
- With a Gross Profit Margin of 65.44% over the last twelve months as of Q4 2024, Microchip Technology demonstrates its ability to maintain profitability and operational efficiency.
InvestingPro Tips highlight that Microchip Technology has raised its dividend for 12 consecutive years and has maintained dividend payments for 23 consecutive years, showcasing its commitment to shareholder returns. Additionally, the company's stock price movements are noted to be quite volatile, which may present opportunities for investors with a tolerance for risk.
For those interested in a deeper analysis, there are 12 more InvestingPro Tips available for Microchip Technology Inc. at https://www.investing.com/pro/MCHP. These tips provide valuable insights into the company's financial health and market positioning, which could be particularly relevant for investors considering the company's latest expansion into the 64-bit microprocessor domain.
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