Microchip Technology Inc. (MCHP) stock is higher by 7.08% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What’s Happening With MCHP Stock Today?
Microchip Technology Inc. (MCHP) stock is trading at $63.52 as of 12:56 PM on Wednesday, Oct 26, a decline of -$0.96, or -1.49% from the previous closing price of $64.48. The stock has traded between $62.10 and $64.58 so far today. Volume today is low. So far 1,702,886 shares have traded compared to average volume of 4,793,935 shares. To screen for more stocks like Microchip Technology Inc. click here.
More About Microchip Technology Inc.
Microchip became an independent company in 1989 when it was spun off from General Instrument. More than half of revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door openers to power windows in autos. The company’s strength lies in lower-end 8-bit MCUs that are suitable for a wider range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and analog chips as well. Click Here to get the full Stock Report for Microchip Technology Inc. stock.
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