Microchip Technology, Inc.’s recently made public that its Senior VP and CFO Bjornholt James Eric unloaded Company’s shares for reported $0.18 million on Aug 23 ’24. In the deal valued at $81.50 per share,2,154 shares were sold. As a result of this transaction, Bjornholt James Eric now holds 33,257 shares worth roughly $2.54 million.
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Then, Bjornholt James Eric bought 2,154 shares, generating $175,412 in total proceeds.
Before that, CHAPMAN MATTHEW W sold 2,748 shares. Microchip Technology, Inc. shares valued at $257,982 were divested by the Director at a price of $93.88 per share. As a result of the transaction, CHAPMAN MATTHEW W now holds 35,682 shares, worth roughly $2.72 million.
Truist downgraded its Microchip Technology, Inc. [MCHP] rating to a Hold from a a Buy in a research note published on September 23, 2024; the price target was decreased to $80 from $89. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in mid August from “a Neutral” to “an Overweight”. TD Cowen also remained covering MCHP and reiterated its “Hold” recommendation on August 02, 2024. BofA Securities revised its rating on August 02, 2024. It rated MCHP as “a Neutral” which previously was an “a Buy”.
Price Performance Review of MCHP
On Friday, Microchip Technology, Inc. [NASDAQ:MCHP] saw its stock jump 0.57% to $76.29. Over the last five days, the stock has lost -1.36%. Microchip Technology, Inc. shares have fallen nearly -15.40% since the year began. Nevertheless, the stocks have risen 6.88% over the past one year. While a 52-week high of $100.57 was reached on 05/24/24, a 52-week low of $68.75 was recorded on 08/07/24. SMA at 50 days reached $77.91, while 200 days put it at $85.86.
Levels Of Support And Resistance For MCHP Stock
The 24-hour chart illustrates a support level at 75.84, which if violated will result in even more drops to 75.40. On the upside, there is a resistance level at 77.14. A further resistance level may holdings at 78.00. The Relative Strength Index (RSI) on the 14-day chart is 47.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.83, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 56.89%. Stochastics %K at 33.28% indicates the stock is a holding.
How much short interest is there in Microchip Technology, Inc.?
A steep rise in short interest was recorded in Microchip Technology, Inc. stocks on 2024-10-15, dropping by -0.3 million shares to a total of 27.15 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 27.45 million shares. There was a decline of -1.11%, which implies that there is a negative sentiment for the stock.
