Microchip Technology Inc (MCHP) Files Form 4 Insider Selling : Steve Sanghi Sells 45,000 Shares

Microchip Technology Inc (MCHP): Steve Sanghi , President, CEO, Chairman of Microchip Technology Inc sold 45,000 shares on May 31, 2016. The Insider selling transaction was reported by the company on May 31, 2016 to the Securities and Exchange Commission. The shares were sold at $51.48 per share for a total value of $2,316,780.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 27, 2016, Steve Sanghi (President, CEO, Chairman) sold 100,000 shares at $50.47 per share price.On May 27, 2016, Matthew W Chapman (director) sold 10,000 shares at $47.92 per share price.Also, On May 23, 2016, Stephen V Drehobl (VP, MCU8 Division) sold 3,916 shares at $48.71 per share price.On May 23, 2016, Richard J Simoncic (VP, Analog and Intrfc Prod Div) sold 2,679 shares at $48.71 per share price.

Microchip Technology: On Friday, May 27, 2016 heightened volatility was witnessed in Microchip Technology which led to swings in the share price. The shares opened for trading at $50.76 and hit $51.05 on the upside , eventually ending the session at $50.99, with a gain of 0.65% or 0.33 points. The heightened volatility saw the trading volume jump to 14,94,703 shares. The 52-week high of the share price is $51.05 and the company has a market cap of $10,953 M . The 52-week low of the share price is at $37.77.

Microchip Technology Money Flow Index Chart

Company has been under the radar of several Street Analysts.Microchip Technology is Initiated by Credit Agricole to Buy and the brokerage firm has set the Price Target at $58. The Rating was issued on May 17, 2016.Microchip Technology is Reiterated by Stifel to Buy and the brokerage firm has raised the Price Target to $ 60 from a previous price target of $54 .The Rating was issued on May 5, 2016.

Microchip Technology Incorporated develops manufactures and sells specialized semiconductor products for a range of embedded control applications. The Company operates in segments including semiconductor products and technology licensing. The Company’s product portfolio consists of general purpose and specialized 8-bit 16-bit and 32-bit microcontrollers; linear mixed-signal power management; thermal management; Radio-frequency (RF) safety security wired connectivity and wireless connectivity devices as well as serial EEPROMs Serial Flash memories Parallel Flash memories and serial Static Random Access Memory (SRAM). The Company also licenses Flash-IP solutions that are incorporated in a range of products. The Company’s products are applicable in the automotive communications computing consumer and industrial control markets.

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