Microchip Technology Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Microchip Technology (NASDAQ:MCHP) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is split between 45% bullish and 54% bearish. The whales have been targeting a price range from $67.5 to $100.0 for Microchip Technology over the last 3 months. The price of MCHP is currently down -2.51% at $74.12. Susquehanna and Morgan Stanley have maintained their positive and overweight ratings on Microchip Technology, with price targets of $95 and $96 respectively.
October 25, 2023 | 3:31 pm
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A large investor has taken a significant bearish stance on Microchip Technology, indicating potential downward pressure on the stock. The company's stock price is currently down -2.51%.
The unusual options activity indicates that a large investor is expecting the price of Microchip Technology to decrease. This bearish sentiment, especially when it comes from a large investor, can put downward pressure on the stock price.
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