Microchip Technology Incorporated (MCHP) : Microchip Technology Incorporated (MCHP) had a healthy money flow of $7.48 million into the stock during the Mondays trading session. The value of bullish trades on upticks was $20.2 million, whereas, investors only sold shares worth $12.72 million on downticks. The stock closed the day with an up-down ratio of 1.59.The money flow in the block trades to the tune of $5.7 million shows that the bulls were dominant, the large players used the weakness in the stock to accumulate it for the long-term. $7.29 million worth of transactions were on upticks. A paltry $1.59 million worth of block trade transactions on downticks shows that the investors are reluctant to sell the stock down. The total up-down ratio of the upticks vs the downticks in block trades was 4.58. Microchip Technology Incorporated (MCHP) stock slid $0.26 intraday and traded at 60.51, a change of -0.43% over previous days close. However, for the week, the company shares are 6.98% compared to previous weeks close.
Shares of Microchip Technology Inc. rose by 8.09% in the last five trading days and 13.84% for the last 4 weeks. Microchip Technology Inc. is up 28.61% in the last 3-month period. Year-to-Date the stock performance stands at 33.63%.
Microchip Technology Incorporated (NASDAQ:MCHP): During Mondays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $60.78 and $60.53 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $61.27. The buying momentum continued till the end and the stock did not give up its gains. It closed at $61.21, notching a gain of 1.16% for the day. The total traded volume was 2,375,692 . The stock had closed at $60.51 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Sanghi Steve, director officer (President, CEO, Chairman) of Microchip Technology Inc, had unloaded 60,129 shares at an average price of $60.58 in a transaction dated on August 10, 2016. The total value of the transaction was worth $3,642,615.
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.