Financial giants have made a conspicuous bullish move on Microchip Technology. Our analysis of options history for Microchip Technology MCHP revealed 13 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $353,558, and 7 were calls, valued at $240,417.
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Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $75.0 and $95.0 for Microchip Technology, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Microchip Technology's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Microchip Technology's whale trades within a strike price range from $75.0 to $95.0 in the last 30 days.
Microchip Technology Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MCHP | PUT | SWEEP | BEARISH | 02/16/24 | $85.00 | $158.9K | 13.2K | 523 |
| MCHP | PUT | SWEEP | BEARISH | 02/16/24 | $82.50 | $63.0K | 4.0K | 402 |
| MCHP | CALL | SWEEP | BULLISH | 10/18/24 | $95.00 | $45.7K | 3.6K | 354 |
| MCHP | CALL | SWEEP | BULLISH | 10/18/24 | $95.00 | $42.9K | 3.6K | 865 |
| MCHP | PUT | SWEEP | BEARISH | 06/21/24 | $80.00 | $39.7K | 1.7K | 82 |
About Microchip Technology
Microchip Technology 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.
Following our analysis of the options activities associated with Microchip Technology, we pivot to a closer look at the company's own performance.
Where Is Microchip Technology Standing Right Now?
- Trading volume stands at 3,500,653, with MCHP's price down by -2.6%, positioned at $81.77.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 79 days.
Expert Opinions on Microchip Technology
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $92.4.
- An analyst from Rosenblatt has revised its rating downward to Buy, adjusting the price target to $100.
- An analyst from UBS persists with their Buy rating on Microchip Technology, maintaining a target price of $95.
- An analyst from Goldman Sachs has decided to maintain their Neutral rating on Microchip Technology, which currently sits at a price target of $77.
- Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Microchip Technology, targeting a price of $90.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Microchip Technology with a target price of $100.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Microchip Technology options trades with real-time alerts from Benzinga Pro.
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