Microchip Technology Incorporated (MCHP) : Traders are bullish on Microchip Technology Incorporated (MCHP) as it has outperformed the S&P 500 by a wide margin of 10.99% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.29%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.8% in the last 1 week, and is up 10.84% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3.45% and the 50-Day Moving Average is 12.15%.The 200 Day SMA reached 28.74%. Microchip Technology Inc. is up 21.84% in the last 3-month period. Year-to-Date the stock performance stands at 37.68%.
Microchip Technology Incorporated (NASDAQ:MCHP): The stock opened in the green at $62.74 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $63 and a low of $62.265 for the day. The stock did not find buyers even at the lows and closed at $62.69 recording a loss of -0.18%. 1,865,950 shares exchanged hands during the trading day. The stock had closed at $62.8 in the previous days trading.
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 Companys 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 Companys products are applicable in the automotive, communications, computing, consumer and industrial control markets.