Microchip Technology Incorporated (NASDAQ:MCHP) has been under a strong bear grip, hence the stock is down -2.3% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.57% in the past 1 week. The stock has risen by 2.88% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.73% in the past 4 weeks.
The company shares have rallied 15.39% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $53.17 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $51.09 and the 200 Day Moving Average price is recorded at $47.35.
The stock has recorded a 20-day Moving Average of 1.58% and the 50-Day Moving Average is 3.71%.
Microchip Technology Incorporated (NASDAQ:MCHP): stock turned positive on Friday. Though the stock opened at $50.87, the bulls momentum made the stock top out at $51.93 level for the day. The stock recorded a low of $50.77 and closed the trading day at $51.87, in the green by 2.92%. The total traded volume for the day was 1,561,015. The stock had closed at $50.4 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (COO) of Microchip Technology Inc, Moorthy Ganesh had sold 10,000 shares worth of $516,900 in a transaction dated June 1, 2016. In this transaction, 10,000 shares were sold at $51.69 per share.
Microchip Technology Incorporated develops, manufactures and sells specialized semiconductor products for a range of embedded control applications. The Company operates in segments, including semiconductor products and technology licensing. The Companys product portfolio consists of general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; linear, mixed-signal, power management; thermal management; Radio-frequency (RF), safety, security, wired connectivity and wireless connectivity devices, as well as serial EEPROMs, Serial Flash memories, Parallel Flash memories and serial Static Random Access Memory (SRAM). The Company also licenses Flash-IP solutions that are incorporated in a range of products. The Companys products are applicable in the automotive, communications, computing, consumer and industrial control markets.