Microchip Technology Inc (MCHP) short interest is $3.34 billion; 37.94 million shares shorted; 16.40% of float; stock borrow is 2.09% bp fee. MCHP is the second most shorted stock in the worldwide Semiconductor Sector behind Intel (INTC) at $3.44 billion.
MCHPâ€™s 22.5% surge in its stock price in 2019 may be a bit too much of a move in such a short time period and short sellers are increasing their positions in what may be a temporarily overheated stock. MCHP still has away to go to reach itâ€™s 2018 high of $103.31, but it has already wiped clean its 4th quarter 2018 losses in just over 5 weeks. MCHPâ€™s stock price fell $1.24 yesterday, giving back some of Wednesdayâ€™s $6.07 gain.
MCHP shares shorted increased by 200k shares yesterday and we are seeing active short selling this morning as well.
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