Microchip Technology Incorporated (MCHP) : Traders are negative on Microchip Technology Incorporated (MCHP), as it has 10% of short positions outstanding compared to its float. The total shorts have reduced by -497,696 shares, which is a -2.3% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,21,530,536 to 21,032,840 shares. While the daily trading volume of the stock is 2,681,435, there are 8 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Microchip Technology Incorporated (NASDAQ:MCHP): The stock opened at $61.15 on Wednesday but the bulls could not build on the opening and the stock topped out at $61.45 for the day. The stock traded down to $60.88 during the day, due to lack of any buying support eventually closed down at $61.02 with a loss of -0.62% for the day. The stock had closed at $61.40 on the previous day. The total traded volume was 1,457,406 shares.
In a related news,The director officer (President, CEO, Chairman) of Microchip Technology Inc, Sanghi Steve sold 28,771 shares at $61.02 on August 18, 2016. The Insider selling transaction had a total value worth of $1,755,606. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.