Zinger Key Points
- Microchip unveils PIC32A MCUs for AI, auto, and medical tech with high-speed analog and 64-bit FPU for math-heavy tasks
- New MCUs offer cost-efficient performance as Microchip plans job cuts and early Fab 2 shutdown to save $100 million annually
- Find out which stock just plummeted to the bottom of the new Benzinga Rankings. Updated daily—spot the biggest red flags before it’s too late.
On Tuesday, Microchip Technology MCHP released the PIC32A family of MCUs to address the increasing demand for high-performance, math-intensive applications in various industries.
Enhancing the company’s already robust 32-bit MCU portfolio, PIC32A MCUs help to deliver cost-efficient, high-performance solutions for general-purpose applications across automotive, industrial, consumer, artificial intelligence/machine learning (AI/ML), and medical markets.
The 200 MHz 32-bit PIC32A family features integrated high-speed analog peripherals.
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These features and a high-performance CPU allow for multiple functions to be performed on a single MCU, optimizing both system and bill of material costs.
Additionally, integrated hardware safety and security features such as Error Code Correction (ECC) on Flash and RAM, Memory Built-In Self-Test (MBIST), I/O integrity monitor, clock monitoring, immutable secure boot, and Flash access control features offer safe execution of software code within an embedded control system application.
A 64-bit Floating Point Unit (FPU) in the PIC32A MCU manages data-intensive math processing applications efficiently and allows for easier adoption of model-based designs.
These MCUs assist developers with accelerated execution in computationally intensive applications that require advanced performance in sensor interfacing and data processing.
The PIC32A MCU family is available starting at less than $1 each in volume.
The company reportedly plans to cut 2,000 jobs across multiple sites and expects annual savings of up to $100 million. It will likely incur ~$45 million in additional costs related to canceling or modifying long-term supply contracts with wafer foundries.
It plans to close its wafer fabrication facility in Tempe, Arizona (Fab 2), with the shutdown now anticipated in May 2025, several months earlier than originally planned. The company’s Fab 2 facility and equipment are available for sale.
Price Action: Microchip stock is up 2.38% at $54.72 premarket at last check Tuesday.
Microchip stock plunged 41% in the last 12 months.
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