Microchip Technology, Inc’s recently made public that 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 $1.89 million.
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 $1.89 million.
BofA Securities downgraded its Microchip Technology, Inc [MCHP] rating to an Underperform from a a Neutral in a research note published on December 16, 2024; the price target was decreased to $65 from $80. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in early November has reiterated a ‘”a Hold”‘ rating for it. Truist also remained covering MCHP and has decreased its forecast on September 23, 2024 with a “Hold” recommendation from previously “Buy” rating. Piper Sandler revised its rating on August 16, 2024. It rated MCHP as “an Overweight” which previously was an “a Neutral”.
Price Performance Review of MCHP
On Tuesday, Microchip Technology, Inc [NASDAQ:MCHP] saw its stock jump 1.73% to $56.88. Over the last five days, the stock has lost -2.42%. Microchip Technology, Inc shares have fallen nearly -0.82% since the year began. Nevertheless, the stocks have fallen -33.63% over the past one year. While a 52-week high of $100.57 was reached on 01/06/25, a 52-week low of $54.47 was recorded on 01/10/25. SMA at 50 days reached $63.25, while 200 days put it at $79.96.
Levels Of Support And Resistance For MCHP Stock
The 24-hour chart illustrates a support level at 55.87, which if violated will result in even more drops to 54.86. On the upside, there is a resistance level at 57.40. A further resistance level may holdings at 57.92. The Relative Strength Index (RSI) on the 14-day chart is 41.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 55.24%. Stochastics %K at 28.33% 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 2024-12-31, growing by 3.82 million shares to a total of 33.91 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 30.09 million shares. There was a rise of 11.26%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on August 02, 2024 when TD Cowen resumed its ‘”a Hold”‘ rating for the stock and retained the price target to $80.
