Shares of Microchip Technology Inc.
slid 3.43% to $73.77 Wednesday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index
falling 1.23% to 4,456.24 and Dow Jones Industrial Average
falling 1.29% to 34,358.50. This was the stock’s third consecutive day of losses. Microchip Technology Inc. closed $16.23 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 Wednesday, as Texas Instruments Inc.
fell 1.79% to $179.08, Analog Devices Inc.
fell 3.42% to $159.14, and STMicroelectronics N.V.
fell 1.91% to $42.19. Trading volume (8.1 M) eclipsed its 50-day average volume of 5.5 M.