The short interest in Microchip Technology Incorporated (NASDAQ:MCHP) has increased from 21,693,701 on May 31,2016 to 22,341,180 on June 15,2016. The change was measured at 647,479 shares or 3%. The leftover shorts were 10.6% of the floated shares. The days to cover are 13, given the average daily volume of 1,779,291 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Microchip Technology Incorporated (NASDAQ:MCHP): The stock opened at $50.70 on Friday but the bulls could not build on the opening and the stock topped out at $51.67 for the day. The stock traded down to $50.17 during the day, due to lack of any buying support eventually closed down at $50.47 with a loss of -4.49% for the day. The stock had closed at $52.84 on the previous day. The total traded volume was 3,156,952 shares.
The company shares have rallied 6.93% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $53.17 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $50.44 and the 200 Day Moving Average price is recorded at $47.07.
Microchip Technology Incorporated (NASDAQ:MCHP) has tumbled 1.45% during the past week and has dropped 1.02% in the last 4 week period. In the past week, the company has outperformed the S&P 500 by 0.19% and the outperformance has advanced to 1.98% for the last 4 weeks period.
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.