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Microchip Technology Inc. stock falls Thursday, underperforms market

Written by corres2

Shares of Microchip Technology Inc.
MCHP,
-3.68%

slipped 3.68% to $68.10 Thursday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index
SPX,
-3.56%

falling 3.56% to 4,146.87 and Dow Jones Industrial Average
DJIA,
-3.12%

falling 3.12% to 32,997.97. The stock’s fall snapped a three-day winning streak. Microchip Technology Inc. closed $21.90 below its 52-week high ($90.00), which the company achieved on December 28th.

The stock demonstrated a mixed performance when compared to some of its competitors Thursday, as Texas Instruments Inc.
TXN,
-3.40%

fell 3.38% to $170.28, Analog Devices Inc.
ADI,
-3.96%

fell 3.96% to $158.24, and STMicroelectronics N.V.
STM,
-5.58%

fell 5.58% to $36.75. Trading volume (7.5 M) eclipsed 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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