KeyBanc analyst Michael McConnell maintained an Overweight rating on Microchip (MCHP), citing significant EPS accretion potential from the acquisition of Microsemi (MSCC), which implies current valuation to be attractive, as well as meaningful revenue diversification and "intact" cycle dynamics. However, after adjusting his estimates to reflect near- to mid-term revenue headwinds and a lower tax rate, McConnell lowered his price target to $111 from $116.

The aviation industry's requirements for the latest, most efficient and lowest-emission aircraft is propelled by an overarching goal towards sustainability and decarbonization. To satisfy these goals, aviation power systems developers are transitioning to electric actuation systems as the trend towards More Electric Aircraft continues to grow. To provide the aviation industry with a comprehensive electric actuation solution, Microchip Technology announces a new integrated actuation power solution that combines companion gate driver boards with our expansive Hybrid Power Drive modules in silicon carbide or silicon technology with a power range of 5 kVA to 20 kVA.