Microchip MCHP is expanding its portfolio with the launch of the MPLAB Machine Learning (ML) Development suite. This innovative software package empowers developers to seamlessly integrate ML capabilities into microcontroller units (MCUs) and microprocessor units (MPUs).
Microchip’s integrated solution is designed for embedded engineers and is the first to support 32-bit MCUs and MPUs and 8- and 16-bit devices to enable efficient product development.
Powered by AutoML, the MPLAB ML Development suite abolishes repetitive and time-consuming tasks, enabling engineers to develop highly efficient, small-footprint ML models much faster. The usage of ML makes it easier for the team to update the developed solutions more accurately than manual processing.
In combination with the MPLAB X Integrated Development Environment (IDE), the new toolkit offers a new solution, the implementation of which can be done with little to no knowledge of ML programming.
Microchip also offers the option to bring a model from TensorFlow Lite and use it in any MPLAB Harmony v3 project. Additionally, the VectorBlox Accelerator Software Development Kit (SDK) provides the most power-efficient Convolutional Neural Network (CNN)-based artificial intelligence/ML inference with PolarFire FPGAs.
Microchip Technology Incorporated Price and Consensus
Microchip Technology Incorporated price-consensus-chart | Microchip Technology Incorporated Quote
Microchip Benefits from a Strong Product Portfolio
Microchip is benefiting from its strong and diverse product portfolio. The company recently introduced its first automotive-qualified Ethernet PHYs. This family of 10BASE-T1S devices with AEC-Q100 Grade 1 qualification includes the LAN8670, LAN8671 and LAN8672.
In June, Microchip announced a 5071B cesium atomic clock that can perform autonomous timekeeping for months in the event of GNSS denials. 5071B is the next-generation commercial cesium clock to the existing 5071A, which has been the primary contributor to international time for over three decades.
Moreover, Microchip announced new development resources and design services, including the industry’s first mid-range industrial edge stack, ready-to-customize cryptography and boot libraries of soft intellectual property and new tools to convert existing FPGA designs to PolarFire devices.
Microchip’s robust product portfolio is helping it dominate 8,16 and 32-bit microcontrollers, driving top-line growth. It is gaining from solid demand across industrial, automotive, aerospace and defense, data center, and communications infrastructure end markets. Collaboration with the likes of AWS is positive.
Microchip expects net sales to be $2.22-$2.312 billion for the second quarter of fiscal 2024. Non-GAAP earnings are anticipated between $1.60 per share and $1.64 per share.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $2.26 billion, indicating an 8.95% increase year over year. The consensus estimate for earnings is pegged at $1.62 per share, unchanged in the past 30 days.
Zacks Rank & Stocks to Consider
Microchip currently carries a Zacks Rank #3 (Hold).
NVIDIA NVDA, Palo Alto Networks PANW and Splunk SPLK are some top-ranked stocks that investors can consider in the broader Zacks Computer & Technology sector.
NVIDIA and Splunk sport a Zacks Rank #1 (Strong Buy), while Palo Alto has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rates for NVIDIA, Palo Alto and Splunk are pegged at 13.5%, 27.8% and 24.7%, respectively.
Zacks Reveals ChatGPT “Sleeper” Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other “must buys.” Plus more.
Download Free ChatGPT Stock Report Right Now >>
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Microchip Technology Incorporated (MCHP) : Free Stock Analysis Report
Splunk Inc. (SPLK) : Free Stock Analysis Report
Palo Alto Networks, Inc. (PANW) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.