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Microchip Technology Inc. stock falls Thursday, underperforms market

Written by corres2

Shares of Microchip Technology Inc.
MCHP,
-2.21%

slid 2.21% to $67.62 Thursday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index
SPX,
-1.48%

falling 1.48% to 4,393.66 and Dow Jones Industrial Average
DJIA,
-1.05%

falling 1.05% to 34,792.76. The stock’s fall snapped a three-day winning streak. Microchip Technology Inc. closed $22.38 short of its 52-week high ($90.00), which the company reached on December 28th.

The stock underperformed when compared to some of its competitors Thursday, as Texas Instruments Inc.
TXN,
-1.22%

fell 1.22% to $177.23, Analog Devices Inc.
ADI,
-1.65%

fell 1.65% to $158.71, and STMicroelectronics N.V.
STM,
-0.55%

fell 0.55% to $38.18. Trading volume (3.9 M) remained 1.4 million below its 50-day average volume of 5.3 M.


Editor’s Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use.


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