Shares of Microchip Technology Inc.
slid 0.93% to $76.57 Monday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index
falling 0.04% to 4,461.18 and Dow Jones Industrial Average
falling 0.58% to 34,552.99. The stock’s fall snapped a four-day winning streak. Microchip Technology Inc. closed $13.43 short of its 52-week high ($90.00), which the company achieved on December 28th.
The stock underperformed when compared to some of its competitors Monday, as Texas Instruments Inc.
rose 0.20% to $180.46, Analog Devices Inc.
rose 0.47% to $164.22, and STMicroelectronics N.V.
rose 0.07% to $42.99. Trading volume (5.2 M) remained 272,623 below its 50-day average volume of 5.5 M.