BofA/Merrill analyst Vivek Arya downgraded Microchip to Neutral from Buy and lowered its price target to $95 from $115 citing more balanced risk/reward, high debt leverage, and Microsemi integration risk, especially from excess channel inventory.

Developers of spacecraft electronics utilize radiation-tolerant field programmable gate arrays to ensure high performance, reliability, power-efficiency and the best-in-class security for emerging space domain threats. To take it a step further and help provide fast, cost-effective software customization, Microchip Technology has introduced the RT PolarFire system-on-chip FPGA. Developed on Microchip's RT PolarFire FPGA, it is the first real-time Linux capable, RISC-V-based microprocessor subsystem on a flight-proven RT PolarFire FPGA fabric. With today's announcement, developers can now start designing using the commercially available PolarFire SoC device and Libero SoC development tools. Along with Microchip's extensive Mi-V ecosystem, PolarFire SoC solution stacks, the PolarFire SoC Icicle Kit or the PolarFire SoC Smart Embedded Vision Kit, developing lower power solutions for the challenging thermal environments seen in space can happen today.