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Microchip Technology Inc. stock underperforms Wednesday when compared to competitors

Written by corres2

Shares of Microchip Technology Inc.
MCHP,
-3.43%

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
SPX,
-1.23%

falling 1.23% to 4,456.24 and Dow Jones Industrial Average
DJIA,
-1.29%

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.
TXN,
-1.79%

fell 1.79% to $179.08, Analog Devices Inc.
ADI,
-3.42%

fell 3.42% to $159.14, and STMicroelectronics N.V.
STM,
-1.91%

fell 1.91% to $42.19. Trading volume (8.1 M) eclipsed its 50-day average volume of 5.5 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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