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Microchip Technology, Inc [MCHP] Insider Bjornholt James Eric sells 4,688 Shares – Insider Selling Alert

Microchip Technology, Inc’s recent filing unveils 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 $1.75 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 $1.75 million.

B. Riley Securities reiterated its Microchip Technology, Inc [MCHP] rating to a Buy in a research note published on January 24, 2025; the price target was $85. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in mid December from “a Neutral” to “an Underperform”. TD Cowen also remained covering MCHP and reiterated its “Hold” recommendation on November 06, 2024. Truist revised its rating on September 23, 2024. It rated MCHP as “a Hold” which previously was an “a Buy”.

Price Performance Review of MCHP

On Tuesday, Microchip Technology, Inc [NASDAQ:MCHP] saw its stock jump 0.65% to $52.60. Over the last five days, the stock has lost -6.54%. Microchip Technology, Inc shares have fallen nearly -8.28% since the year began. Nevertheless, the stocks have fallen -38.59% over the past one year. While a 52-week high of $100.57 was reached on 01/06/25, a 52-week low of $51.37 was recorded on 02/03/25. SMA at 50 days reached $59.39, while 200 days put it at $77.75.

Levels Of Support And Resistance For MCHP Stock

The 24-hour chart illustrates a support level at 52.19, which if violated will result in even more drops to 51.79. On the upside, there is a resistance level at 53.00. A further resistance level may holdings at 53.41. The Relative Strength Index (RSI) on the 14-day chart is 33.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.18%. Stochastics %K at 10.39% 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 2025-01-15, dropping by -1.77 million shares to a total of 29.22 million shares. Yahoo Finance data shows the prior-month short interest on 2024-12-13 was 30.99 million shares. There was a decline of -6.06%, which implies that there is a negative sentiment for the stock.

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