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Microchip Technology Inc. (MCHP - Analyst Report) recently announced the launch of MGC3130 Hillstar Development Kit - the world’s first e-field 3D tracking and gesture controller for 3D gesturing systems.

MGC3130 Hillstar Development Kit includes a complete MGC3130 reference system, a MGC3130 Module and one reference electrode. Microchip’s GestIC technology allows users to interact with their devices using hand/finger position tracking and intuitive free-space gestures in real time.

The GestIC technology serves a wide range of applications in the computing, lighting, consumer-electronics and automotive markets. The Hillstar Development Kit helps designers with a path to integrate Microchip's industry-leading technology in their applications, in minimum possible time.

This new gesture controller eases the development of solutions and provides designers with a flexible step-by-step approach to develop 3D gesturing systems. The quality, performance, reliability features, ease of use, and pricing and diversity of products make Microchip one of the better-positioned companies in the semiconductor universe.

Microchip develops and manufacturers microcontrollers, memory and analog and interface products for embedded-control systems, which are small, low-power computers designed to perform specific tasks.

Microchip is scheduled to report its second quarter fiscal 2014 earnings on October 30, 2013. The current Zacks Consensus Estimate for the second quarter is pegged at 55 cents per share, representing a year-over-year increase of about 39.7%.

Microchip currently has a Zacks Rank #2 (Buy). Other stocks that look promising and are worth considering now are Supertex Inc , carrying a Zacks Rank #1 (Strong Buy). NXP Semiconductors NV (NXPI - Snapshot Report) and Intersil Corp. (ISIL - Snapshot Report) are also worth a look as they carry Zacks Rank #2 (Buy).

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