Microchip Technology Incorporated (MCHP) : The total money flow in Microchip Technology Incorporated (MCHP) was negative ($4.55 million), showing the domination of sellers in the Friday trading session. The traders utilized every rise to sell their positions, as seen in the value of trading on downtick to the tune of $9.7 million. Transactions on upticks were comparatively lower at $5.15 million. The uptick to downtick ratio was 0.53. The total block trades done on upticks were valued at $0.94 million. The total block trades on downticks were valued at $5.36 million. The uptick to the downtick ratio of block trades was 0.17. The money flow during block trades was negative ($4.42 million) when the stock traded with a gain of $17 cent. Microchip Technology Incorporated (MCHP) was $53.97, an increase of 0.32% over the previous days close.
Microchip Technology Incorporated (MCHP) : The highest level Microchip Technology Incorporated (MCHP) is projected to reach is $63 for the short term and the lowest estimate is at $40. The consolidated price target from 10 rating analysts who initiate coverage on the stock is $54.15 and the possibility the share price can swing is $6.82.
Microchip Technology Incorporated (NASDAQ:MCHP): stock turned positive on Friday. Though the stock opened at $53.91, the bulls momentum made the stock top out at $54.215 level for the day. The stock recorded a low of $53.33 and closed the trading day at $54.17, in the green by 0.69%. The total traded volume for the day was 1,615,869. The stock had closed at $53.8 in the previous days trading.
In a related news,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.
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.