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 $2.24 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 $2.4 million.
TD Cowen reiterated its Microchip Technology, Inc [MCHP] rating to a Hold in a research note published on November 06, 2024; the price target was $70. A number of analysts have revised their coverage, including Truist’s analysts, who decreased its forecast for the stock in late September from “a Buy” to “a Hold”. Piper Sandler also remained covering MCHP and has increased its forecast on August 16, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. TD Cowen maintained its rating on August 02, 2024. It rated MCHP as “a Hold”.
Price Performance Review of MCHP
On Tuesday, Microchip Technology, Inc [NASDAQ:MCHP] saw its stock fall -3.69% to $67.30. Over the last five days, the stock has lost -10.37%. Microchip Technology, Inc shares have fallen nearly -25.37% since the year began. Nevertheless, the stocks have fallen -13.23% over the past one year. While a 52-week high of $100.57 was reached on 05/24/24, a 52-week low of $69.00 was recorded on 11/12/24. SMA at 50 days reached $76.31, while 200 days put it at $85.03.
Levels Of Support And Resistance For MCHP Stock
The 24-hour chart illustrates a support level at 65.71, which if violated will result in even more drops to 64.13. On the upside, there is a resistance level at 69.25. A further resistance level may holdings at 71.21. The Relative Strength Index (RSI) on the 14-day chart is 29.65, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.87%. Stochastics %K at 9.45% indicates the stock is a buying.
How much short interest is there in Microchip Technology, Inc?
A steep rise in short interest was recorded in Microchip Technology, Inc stocks on 2024-10-31, growing by 3.54 million shares to a total of 30.31 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 26.78 million shares. There was a rise of 11.66%, which implies that there is a positive sentiment for the stock.
