Microchip Technology Enhances TrustMANAGER Platform to Strengthen IoT Security and Compliance with New Firmware Update Features

Microchip enhances TrustMANAGER for secure IoT firmware updates, supporting compliance with evolving cybersecurity regulations.

Quiver AI Summary

Microchip Technology has announced enhancements to its TrustMANAGER platform to address cybersecurity vulnerabilities in IoT devices, particularly targeting outdated firmware. These improvements include secure code signing, Firmware Over-the-Air (FOTA) updates, and remote management of firmware and cryptographic keys, aligning with the European Cyber Resilience Act (CRA) and notable international standards. The platform utilizes Kudelski IoT's keySTREAM™ for secure authentication of IoT devices, enabling manufacturers to manage firmware updates efficiently while complying with evolving regulations. As the CRA requires compliance with strict cybersecurity measures for digital products sold in the EU, starting August 1, 2025, Microchip's solutions aim to facilitate secure cloud connectivity and enhance lifecycle management of connected devices. The updated TrustMANAGER also supports the development of secure designs for various industries, promoting efficient resource use and future-proofing against emerging threats.

Potential Positives

Microchip Technology is enhancing its TrustMANAGER platform to include important features like secure code signing and Firmware Over-the-Air (FOTA) updates, which address critical security vulnerabilities in IoT devices.
The advancements support compliance with the European Cyber Resilience Act (CRA), positioning the company favorably in the expanding market of regulated cybersecurity solutions.
The integration of FOTA services helps customers save resources and meet compliance requirements, enhancing Microchip's value proposition to IoT device manufacturers and industrial automation providers.
The Microchip WINCS02PC Wi-Fi network controller module is now certified against the Radio Equipment Directive (RED), ensuring security and reliability for products sold in the EU market.

Potential Negatives

Microchip Technology's press release indicates a reactive stance toward evolving cybersecurity regulations, suggesting they may have been behind in addressing firmware vulnerabilities in IoT devices.
The compliance with stringent requirements of the European Cyber Resilience Act (CRA) implies that previous products may not have met these security standards, potentially affecting trust and credibility.
The need for enhancements to their TrustMANAGER platform highlights the ongoing risks associated with IoT device security, indicating inherent vulnerabilities in their existing offerings.

FAQ

What is the purpose of the enhanced TrustMANAGER platform?

The enhanced TrustMANAGER platform aims to address cybersecurity vulnerabilities in IoT devices through secure code signing and Firmware Over-the-Air updates.

How does Microchip's solution comply with the European Cyber Resilience Act?

Microchip's TrustMANAGER supports compliance with the CRA by offering mechanisms for secure firmware updates, lifecycle credential management, and remote management.

What is the significance of FOTA updates in IoT security?

FOTA updates allow remote patching of vulnerabilities, reducing the need for manual updates and ensuring compliance with evolving cybersecurity regulations.

When does the Radio Equipment Directive (RED) come into effect?

The Radio Equipment Directive (RED) cybersecurity provisions will apply to all wireless devices sold in the EU market starting August 1, 2025.

Where can customers purchase Microchip's TrustMANAGER products?

Customers can purchase TrustMANAGER products directly from Microchip or through authorized worldwide distributors.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$MCHP Congressional Stock Trading

Members of Congress have traded $MCHP stock 3 times in the past 6 months. Of those trades, 1 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $MCHP stock by members of Congress over the last 6 months:

REPRESENTATIVE ROBERT BRESNAHAN purchased up to $15,000 on 04/08.
REPRESENTATIVE JEFFERSON SHREVE sold up to $50,000 on 04/07.
REPRESENTATIVE JULIE JOHNSON sold up to $15,000 on 02/05.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$MCHP Insider Trading Activity

$MCHP insiders have traded $MCHP stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $MCHP stock by insiders over the last 6 months:

JAMES ERIC BJORNHOLT (SENIOR VP AND CFO) has made 0 purchases and 2 sales selling 5,739 shares for an estimated $339,113.
KARLTON D JOHNSON sold 494 shares for an estimated $29,980

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$MCHP Hedge Fund Activity

We have seen 473 institutional investors add shares of $MCHP stock to their portfolio, and 758 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JPMORGAN CHASE & CO removed 12,661,010 shares (-53.2%) from their portfolio in Q1 2025, for an estimated $612,919,494
ORBIS ALLAN GRAY LTD added 7,635,024 shares (+inf%) to their portfolio in Q1 2025, for an estimated $369,611,511
PRINCIPAL FINANCIAL GROUP INC removed 7,011,987 shares (-91.8%) from their portfolio in Q1 2025, for an estimated $339,450,290
INVESCO LTD. added 6,459,123 shares (+63.0%) to their portfolio in Q1 2025, for an estimated $312,686,144
GOLDMAN SACHS GROUP INC added 5,136,154 shares (+138.9%) to their portfolio in Q1 2025, for an estimated $248,641,215
BLACKROCK, INC. added 4,908,661 shares (+9.9%) to their portfolio in Q1 2025, for an estimated $237,628,279
BALYASNY ASSET MANAGEMENT L.P. added 4,396,115 shares (+1059.0%) to their portfolio in Q1 2025, for an estimated $212,815,927

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$MCHP Analyst Ratings

Wall Street analysts have issued reports on $MCHP in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Evercore ISI issued a "Outperform" rating on 06/12/2025
B. Riley issued a "Buy" rating on 04/24/2025

To track analyst ratings and price targets for $MCHP, check out Quiver Quantitative's $MCHP forecast page.

$MCHP Price Targets

Multiple analysts have issued price targets for $MCHP recently. We have seen 5 analysts offer price targets for $MCHP in the last 6 months, with a median target of $68.0.

Here are some recent targets:

Matthew Prisco from Cantor Fitzgerald set a target price of $70.0 on 06/18/2025
Mark Lipacis from Evercore ISI set a target price of $83.0 on 06/12/2025
An analyst from Truist Financial set a target price of $43.0 on 04/21/2025
An analyst from Mizuho Securities set a target price of $68.0 on 03/04/2025
Joseph Moore from Morgan Stanley set a target price of $58.0 on 02/04/2025

Full Release

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):

Application image: https://www.flickr.com/photos/microchiptechnology/54566293647/sizes/o/
Download Microchip’s CRA white paper - Understanding the Cyber Resilience Act and Its Impact on Embedded Systems: https://mkpage.microchip.com/en-us/solutions/technologies/embedded-security/cyber-resilience-act/security-wp
Trust Platform Design Suite: https://www.microchip.com/en-us/products/security/trust-platform/tpds

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 www.microchip.com .

Note: The Microchip name and logo, the Microchip logo and MPLAB are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

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