Latest news with #Microchip
Yahoo
3 days ago
- Business
- Yahoo
Citi Raised the Firm's PT On QUALCOMM (QCOM), Maintains a Hold Rating
QUALCOMM Incorporated (NASDAQ:QCOM) is one of the 10 Most Undervalued Technology Stocks to Buy Right Now. On July 7, Citi raised firm's price target on QUALCOMM Incorporated (NASDAQ:QCOM) from $145 to $170, while maintaining a Hold rating on the stock. The firm noted increasing the price target due to the resilience of the sector against tariffs. The firm had previously estimated that tariffs would lead to a slowdown in the sector; however, the market has shown resilience. Moreover, Citi also believes that the recent upturn is driven by a growing demand and inventory replenishment. It sees Microchip and Texas Instruments products having the most upside within the sector. A technician testing the latest 5G device, demonstrating the company's commitment to innovation. Moreover, QUALCOMM Incorporated (NASDAQ:QCOM) reported strong results for its fiscal second quarter of 2025. The company posted a revenue of $10.84 billion, up 15.45% year-over-year and ahead of expectations by $178.66 million. The EPS of $2.85 also exceeded expectations by $0.03. QUALCOMM Incorporated (NASDAQ:QCOM) is a technology company that develops key wireless technologies, including 3G, 4G, and 5G connectivity. It also designs integrated circuits and software for devices like smartphones, IoT products, and automotive systems. While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Intel (INTC) Price Target Raised by Citi Ahead of Q2 Earnings
Intel Corporation (NASDAQ:INTC) is one of the . On July 7, Citigroup analyst Christopher Danely raised the price target for Intel from $21.00 to $24.00, keeping a 'Neutral' rating on the shares. The rating update comes as part of a Q2 earnings preview for the semiconductor group. The firm raised its forecasts, explaining that previous assumptions that tariffs would slow down the industry don't seem to be coming true. Citi believes that the sector will now grow, driven by solid demand and inventory replenishment. The two stocks that Citi sees the most upside in are Microchip (MCHP) and Texas Instruments (TXN). Intel Corporation (NASDAQ:INTC) designs and sells computing hardware, semiconductor products, and AI-driven solutions for various industries. While we acknowledge the potential of INTC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
Globe and Mail
02-07-2025
- Business
- Globe and Mail
Steve Sanghi to Continue as Microchip CEO and President on a Permanent Basis
CHANDLER, Ariz., July 02, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that Steve Sanghi has agreed to continue to serve as the company's Chief Executive Officer and President on a permanent basis. Mr. Sanghi had been serving in such roles on an interim basis since November 2024. Mr. Sanghi will also continue to serve as Chair of the Microchip Board of Directors. Prior to his retirement as Microchip's CEO in 2021, Mr. Sanghi had served as Microchip's CEO for almost 30 years. Microchip's lead independent director, Matthew Chapman, stated that 'The Board is delighted that Steve has agreed to continue as CEO and President on a permanent basis. Since he assumed such roles on an interim basis, he has taken decisive action to design and implement a recovery plan to restore Microchip to its leadership position in the industry. The Board believes that Steve is the best person to lead the company on a long-term basis to further execute on its objectives.' Mr. Sanghi commented, 'I have been a leader of Microchip for over 30 years and look forward to continuing to serve the company on a long-term basis. Although several of the elements of our recovery plan have been completed or substantially implemented, some of the other elements of the plan, such as achieving our long-term operating model, will require sustained efforts. I am thankful that the Board is entrusting me to continue to guide the company towards achievement of its goals.' About Microchip: Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs, which reduce risk while lowering total system cost and time to market. The company's solutions serve approximately 109,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at The Microchip logo and name are registered trademarks of Microchip Technology Incorporated.
Business Insider
25-06-2025
- Business
- Business Insider
Microchip (MCHP) Receives a Rating Update from a Top Analyst
In a report released yesterday, William Stein from Truist Financial maintained a Hold rating on Microchip (MCHP – Research Report), with a price target of $64.00. The company's shares closed yesterday at $70.43. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Stein is a top 25 analyst with an average return of 30.5% and a 74.69% success rate. Stein covers the Technology sector, focusing on stocks such as Microchip, Intel, and Advanced Micro Devices. In addition to Truist Financial, Microchip also received a Hold from Cantor Fitzgerald's Matthew Prisco in a report issued on June 18. However, on June 12, Evercore ISI maintained a Buy rating on Microchip (NASDAQ: MCHP). Based on Microchip's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $970.5 million and a GAAP net loss of $154.6 million. In comparison, last year the company earned a revenue of $1.33 billion and had a net profit of $154.7 million Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MCHP in relation to earlier this year. Last month, Karlton D Johnson, a Director at MCHP sold 494.00 shares for a total of $29,980.86.
Globe and Mail
24-06-2025
- Business
- Globe and Mail
Microchip Enhances TrustMANAGER Platform to Support CRA Compliance and Cybersecurity Regulations
CHANDLER, Ariz., June 24, 2025 (GLOBE NEWSWIRE) -- International cybersecurity regulations continue to adapt to meet the evolving threat landscape. One major focus is on outdated firmware in IoT devices, which can present significant security vulnerabilities. To address these challenges, Microchip Technology (Nasdaq: MCHP) is enhancing its TrustMANAGER platform to include secure code signing and Firmware Over-the-Air (FOTA) update delivery as well as remote management of firmware images, cryptographic keys and digital certificates. These advancements support compliance with the European Cyber Resilience Act (CRA) which mandates strong cybersecurity measures for digital products sold in the European Union (EU). Aligned with standards like the European Telecommunications Standards Institute (ETSI) EN 303 645 baseline requirements of cybersecurity for consumer IoT and the International Society of Automation (ISA)/International Electrotechnical Commission (IEC) 62443 security of industrial automation and control systems standards, the CRA sets a precedent that is expected to influence regulations worldwide. Microchip's ECC608 TrustMANAGER leverages Kudelski IoT's keySTREAM™ Software as a Service (SaaS) to deliver a secure authentication Integrated Circuit (IC) that is designed to store, protect and manage cryptographic keys and certificates. With the addition of FOTA services, the platform helps customers securely deploy real-time firmware updates to remotely patch vulnerabilities and comply with cybersecurity regulations. '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 addition of FOTA services to Microchip's TrustMANAGER platform offers a scalable solution that removes the need for manual, and expensive, static infrastructure security updates. FOTA updates allow customers to save resources while fulfilling compliance requirements and helping to future-proof their products against emerging threats and evolving regulations.' Further enhancing cybersecurity compliance, the Microchip WINCS02PC Wi-Fi ® network controller module used in the TrustMANAGER development kit is now certified against the Radio Equipment Directive (RED) for secure and reliable cloud connectivity. RED establishes strict standards for radio devices in the EU, focusing on network security, data protection and fraud prevention. Beginning August 1, 2025, all wireless devices sold in the EU market must adhere to RED cybersecurity provisions. By incorporating these additional services, TrustMANAGER—governed by keySTREAM—tackles key challenges with IoT security, regulatory compliance, device lifecycle management and fleet management. This solution is designed to serve IoT device manufacturers and industrial automation providers. Visit the website to learn more about Microchip's Trust Platform. Development Tools The ECC608 TrustMANAGER is compatible with the MPLAB ® X Integrated Development Environment (IDE) and supported by Microchip's CryptoAuth PRO development board (EV89U05A) and the CryptoAuthLib software library. The Trust Platform Design Suite (TPDS) contains a use case example including onboarding educational steps and a firmware code example to enable the keySTREAM service to AWS ® with the ECC608 secure element running on a 32-bit Arm ® Cortex ® -M4-based PIC32CX SG41MCU and a WINCS02PC Wi-Fi module. Pricing and Availability You can purchase directly from Microchip or contact a Microchip sales representative or authorized worldwide distributor. Resources High-res images available through Flickr or editorial contact (feel free to publish): About Microchip Technology: Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control and processing solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company's solutions serve over 100,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at
