Microchip Technology Incorporated (MCHP) Shares are Up 1.65%

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 6.4% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.22%, 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 1.65% in the last 1 week, and is up 9.04% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

Microchip Technology Incorporated (NASDAQ:MCHP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $55.97 and $55.84 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $56.57. The buying momentum continued till the end and the stock did not give up its gains. It closed at $56.56, notching a gain of 1.45% for the day. The total traded volume was 2,003,162 . The stock had closed at $55.75 on the previous day.

The stock has recorded a 20-day Moving Average of 3.69% and the 50-Day Moving Average is 7.59%. Microchip Technology Inc. is up 18.84% in the last 3-month period. Year-to-Date the stock performance stands at 23.48%.

Microchip Technology Incorporated (MCHP) : 10 investment research analysts covering Microchip Technology Incorporated (MCHP) have an average price target of $54.15 for the near short term. The highest target price given by the Brokerage Firm to the stock is $63 and the lowest target is $40 for the short term. Analysts expect the variance to be within $6.82 of the average price.


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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.