Smart Money Is Betting Big In MCHP Options
Portfolio Pulse from Benzinga Insights
Smart money investors have shown a bearish stance on Microchip Technology (NASDAQ:MCHP), with unusual options activity detected. The sentiment among these investors is split, with 36% bullish and 63% bearish. Notable options trades include both puts and calls, targeting a price range of $72.5 to $110.0 for MCHP. The company, known for its microcontrollers and analog chips, has seen a recent price increase of 0.32%, with an earnings announcement expected imminently. Analyst opinions on MCHP are mixed, with price targets ranging from $80 to $105.
February 01, 2024 | 7:30 pm
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Microchip Technology has seen significant options activity indicating a bearish sentiment among smart money investors, despite a recent price uptick. Analysts have mixed opinions, with price targets ranging widely.
The bearish sentiment indicated by the options activity, combined with the imminent earnings announcement and mixed analyst ratings, suggests potential short-term volatility or downside risk for MCHP. The significant attention from both institutional and retail investors, as evidenced by the unusual options activity, underscores the relevance of this news to MCHP's short-term price movement.
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