Microchip Technology, Inc.’s recently made public that its Executive Chair SANGHI STEVE unloaded Company’s shares for reported $3.39 million on Mar 07 ’24. In the deal valued at $93.10 per share,36,443 shares were sold. As a result of this transaction, SANGHI STEVE now holds 10,090,421 shares worth roughly $928.92 million.
Then, Johnson Karlton D sold 92 shares, generating $7,993 in total proceeds. Upon selling the shares at $86.88, the Director now owns 1,697 shares.
Before that, Bjornholt James Eric sold 1,970 shares. Microchip Technology, Inc. shares valued at $165,283 were divested by the Senior VP and CFO at a price of $83.90 per share. As a result of the transaction, Bjornholt James Eric now holds 32,893 shares, worth roughly $3.03 million.
TD Cowen reiterated its Microchip Technology, Inc. [MCHP] rating to a Hold in a research note published on May 07, 2024; the price target was $90. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who began to cover the stock in mid April with a ‘”an Outperform”‘ rating. TD Cowen also remained covering MCHP and reiterated its “Market perform” recommendation on February 02, 2024. Wolfe Research revised its rating on January 18, 2024. It rated MCHP as “an Outperform” which previously was an “a Peer perform”.
Price Performance Review of MCHP
On Tuesday, Microchip Technology, Inc. [NASDAQ:MCHP] saw its stock fall -1.81% to $92.06. Over the last five days, the stock has gained 0.09%. Microchip Technology, Inc. shares have risen nearly 2.08% since the year began. Nevertheless, the stocks have risen 22.45% over the past one year. While a 52-week high of $94.63 was reached on 05/07/24, a 52-week low of $68.75 was recorded on 02/14/24. SMA at 50 days reached $88.32, while 200 days put it at $83.98. A total of 7.41 million shares were traded, compared to the trading of 7.24 million shares in the previous session.
Levels Of Support And Resistance For MCHP Stock
The 24-hour chart illustrates a support level at 90.57, which if violated will result in even more drops to 89.07. On the upside, there is a resistance level at 94.85. A further resistance level may holdings at 97.63. The Relative Strength Index (RSI) on the 14-day chart is 56.28, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.92, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 26.77%. Stochastics %K at 81.03% indicates the stock is a selling.
