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CHANDLER, Ariz. - Microchip Technology (NASDAQ:MCHP), a semiconductor company currently trading near its 52-week low with a market capitalization of $28.7 billion, has expanded its 32-bit microcontroller (MCU) product line with the introduction of the PIC32A family, aimed at meeting the growing needs of math-intensive applications across various markets. According to InvestingPro data, the company maintains strong financial health with a current ratio of 2.25, indicating solid liquidity. The new family of MCUs is designed to optimize costs and performance for general-purpose applications in sectors including automotive, industrial, consumer, AI/ML, and medical.
The PIC32A MCUs operate at 200 MHz and integrate high-speed analog peripherals, which are said to significantly minimize the need for external components. These integrated features include up to 40 Msps 12-bit Analog-to-Digital Converters (ADCs), 5 ns comparators, and op amps with a 100 MHz Gain Bandwidth Product (GBWP), enhancing intelligent edge sensing capabilities. While the company continues to innovate, InvestingPro analysis shows that 14 analysts have recently revised their earnings expectations downward for the upcoming period.
In addition to performance, the PIC32A family offers hardware safety and security features to ensure the safe execution of software code within embedded control systems. These features include Error Code Correction (ECC) on Flash and RAM, Memory Built-In Self-Test (MBIST), and immutable secure boot, among others.
The introduction of a 64-bit Floating Point Unit (FPU) within the PIC32A MCU family enables more efficient handling of data-intensive math processing applications, facilitating the adoption of model-based designs.
Rod Drake, corporate vice president of Microchip’s MCU business units, highlighted the balance of cost-effectiveness, performance, and advanced analog peripherals in the new MCU family. He also noted the reduction of system complexity due to high-speed peripherals and other integrated functionalities.
Developers can utilize the MPLAB XC32 Compiler, MPLAB Harmony embedded software development framework, and development boards like the dsPIC33A Curiosity Platform and PIC32AK1216GC41064 General-Purpose DIM for support with the PIC32A MCUs.
The PIC32A MCU family is now available for purchase at a starting price of less than $1 each in volume orders. Customers can contact Microchip sales representatives or authorized distributors, or visit the Microchip direct purchasing website for further information.
This announcement is based on a press release statement from Microchip Technology Inc., a company recognized for providing smart, connected, and secure embedded control and processing solutions to a diverse customer base. Despite recent stock volatility, with shares down about 30% over the past six months, the company maintains a strong dividend track record, having raised its dividend for 13 consecutive years. For deeper insights into Microchip Technology’s financial health and market position, including access to comprehensive Pro Research Reports covering 1,400+ top stocks, visit InvestingPro.
In other recent news, Microchip Technology has been the focus of several analyst updates following a Business Update Call led by interim CEO Steve Sanghi. Stifel has maintained its Buy rating with a price target of $80, expressing confidence in the company’s strategic direction and 9-Point Recovery Plan aimed at exceeding industry growth rates. Rosenblatt also reiterated a Buy rating and a $70 target, noting improvements in inventory levels and bookings, as well as the introduction of a sustainable long-term business model. Evercore ISI raised its price target to $71, citing positive booking trends and a stabilizing backlog, while maintaining an Outperform rating. Mizuho increased its target to $68, emphasizing cost-saving initiatives and stable bookings, and also kept an Outperform rating.
TD Cowen adjusted its target to $60 from $50, maintaining a Hold rating, and highlighted Microchip’s efforts to navigate inventory corrections and implement structural improvements. The company’s management has taken measures such as downsizing and consolidating operations, which are ahead of schedule and could support future earnings. Despite these proactive steps, analysts remain cautious about immediate changes to the investment thesis. Microchip’s recent developments reflect a concerted effort to stabilize and grow, with analysts closely monitoring the company’s performance and market response.
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