Microchip Technology, Inc (NASDAQ:MCHP) shares, rose in value on Wednesday, January 22, with the stock price down by -0.05% to the previous day’s close as strong demand from buyers drove the stock to $58.48.
Actively observing the price movement in the last trading, the stock closed the session at $58.51, falling within a range of $58.03 and $59.35. The value of beta (5-year monthly) was 1.526 whereas the PE ratio was 40.78 over 12-month period. Referring to stock’s 52-week performance, its high was $100.57, and the low was $54.47. On the whole, MCHP has fluctuated by 4.17% over the past month.
With the market capitalization of Microchip Technology, Inc currently standing at about $31.40 billion, investors are eagerly awaiting this quarter’s results, scheduled for in February. The company’s Forward Dividend Ratio is 1.81, with its dividend yield at 3.10%.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MCHP’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 1.55, with the price of MCHP currently trading nearly 2.06% and -5.04% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.89, while the 7-day volatility ratio is showing 2.84% which for the 30-day chart, stands at 2.83%. Furthermore, Microchip Technology, Inc (MCHP)’s beta value is 1.50, and its average true range (ATR) is 1.90.
A comparison of Microchip Technology, Inc (MCHP) with its peers suggests the former has fared considerably weaker in the market. MCHP showed an intraday change of -0.05% in last session, and over the past year, it shrunk by -34.62%%.
Data on historical trading for Microchip Technology, Inc (NASDAQ:MCHP) indicates that the trading volumes over the past 10 days have averaged 7.58 and over the past 3 months, they’ve averaged 7.85 million. According to company’s latest data on outstanding shares, there are 537.01 million shares outstanding.
Nearly 2.13% of Microchip Technology, Inc’s shares belong to company insiders and institutional investors own 95.04% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 33.91 million shares as on 2024-12-31, resulting in a short ratio of 3.63. According to the data, the short interest in Microchip Technology, Inc (MCHP) stood at 739.00 of shares outstanding as of 2024-12-31; the number of short shares registered in 2024-11-29 reached 30.09 million. The stock has risen by 1.97% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MCHP stock heading into the next quarter.
