In a filing, Microchip Technology, Inc revealed its SENIOR VP AND CFO Bjornholt James Eric unloaded Company’s shares for reported $0.32 million on Nov 25 ’24. In the deal valued at $67.75 per share,4,688 shares were sold. As a result of this transaction, Bjornholt James Eric now holds 33,272 shares worth roughly $2.28 million.
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Then, Bjornholt James Eric bought 4,688 shares, generating $317,121 in total proceeds.
Before that, Bjornholt James Eric sold 2,154 shares. Microchip Technology, Inc shares valued at $175,551 were divested by the Senior VP and CFO at a price of $81.50 per share. As a result of the transaction, Bjornholt James Eric now holds 33,257 shares, worth roughly $2.28 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 -2.06% to $68.41. Over the last five days, the stock has gained 5.44%. Microchip Technology, Inc shares have fallen nearly -24.14% since the year began. Nevertheless, the stocks have fallen -16.33% over the past one year. While a 52-week high of $100.57 was reached on 05/24/24, a 52-week low of $62.62 was recorded on 11/15/24. SMA at 50 days reached $74.27, while 200 days put it at $84.11.
Levels Of Support And Resistance For MCHP Stock
The 24-hour chart illustrates a support level at 67.12, which if violated will result in even more drops to 65.83. On the upside, there is a resistance level at 70.31. A further resistance level may holdings at 72.21. The Relative Strength Index (RSI) on the 14-day chart is 44.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.73, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.11%. Stochastics %K at 41.12% 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 2024-11-15, growing by 3.62 million shares to a total of 30.77 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 27.15 million shares. There was a rise of 11.75%, which implies that there is a positive sentiment for the stock.
