Shares of Microchip Technology Incorporated (NASDAQ:MCHP) Sees Large Outflow of Money

Microchip Technology Incorporated (NASDAQ:MCHP): The stock had negative money flow to the tune of ($4.36 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $11.35 million, whereas, the outflow of money on downticks was $15.71 million and the ratio between the two was 0.72. The block trade had a negative net money flow of ($6.1 million). The total block trade value undertaken on upticks was $2.82 million. On the other hand, downticks amounted to $8.91 million of the traded value, which shows distribution in the stock by traders. The ratio between uptick and downtick was 0.32. Microchip Technology Incorporated (NASDAQ:MCHP) closed with marginal gains of 50 cents to end the day at $49.86, an increase of 1.01% over the previous days close. The stock recorded -1.21% for the week.


In an insider trading activity,The officer (COO) of Microchip Technology Inc, Moorthy Ganesh sold 10,000 shares at $51.69 on June 1, 2016. The Insider selling transaction had a total value worth of $516,900. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. Currently the company Insiders own 2.5% of Microchip Technology Incorporated shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -22.59% . Institutional Investors own 99.08% of Microchip Technology Incorporated shares. During last six month period, the net percent change held by insiders has seen a change of -18.9%.

The company shares have rallied 5.83% 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 $50.50 and the 200 Day Moving Average price is recorded at $47.14. Microchip Technology Incorporated (NASDAQ:MCHP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $49.66 and $49.38 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $50.02. The buying momentum continued till the end and the stock did not give up its gains. It closed at $49.70, notching a gain of 0.69% for the day. The total traded volume was 2,736,520 . The stock had closed at $49.36 on the previous day.

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.

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