Shares of Microchip Technology Incorporated (MCHP) Rally 3.66%

Microchip Technology Incorporated (MCHP) : Traders are bullish on Microchip Technology Incorporated (MCHP) as it has outperformed the S&P 500 by a wide margin of 0.6% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.14%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.66% in the last 1 week, and is up 5% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 5% and the 50-Day Moving Average is 6.68%.

Microchip Technology Incorporated (NASDAQ:MCHP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $53.71 and $53.39 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $53.97. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.77, notching a gain of 0.30% for the day. The total traded volume was 5,844,890 . The stock had closed at $53.61 on the previous day.


The company Insiders own 2.5% of Microchip Technology Incorporated shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -22.59% . Institutional Investors own 99.09% of Microchip Technology Incorporated shares. During last six month period, the net percent change held by insiders has seen a change of -18.9%. In a related news, The Securities and Exchange Commission has divulged that Moorthy Ganesh, officer (COO) of Microchip Technology Inc, had unloaded 10,000 shares at an average price of $51.69 in a transaction dated on June 1, 2016. The total value of the transaction was worth $516,900.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.