Microchip Technology Inc. stock falls Wednesday, still outperforms market – MarketWatch

Shares of Microchip Technology Inc. MCHP, +2.58% slipped 1.86% to $66.50 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX, +0.92% falling 2.08% to 3,748.57 and Dow Jones Industrial Average DJIA, +0.10% falling 1.95% to 32,513.94. The stock’s fall snapped a three-day winning streak. Microchip Technology Inc. closed $23.50 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 Wednesday, as Texas Instruments Inc. TXN, +2.75% fell 1.86% to $164.99, Analog Devices Inc. ADI, +2.30% fell 1.86% to $148.23, and STMicroelectronics N.V. STM, +2.14% fell 2.29% to $32.86. Trading volume (5.5 M) eclipsed its 50-day average volume of 5.2 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.
Markets were clearly ready for some good news, and drove a massive rally. But while the October CPI showed some slowing, it’s just one month, and labor markets continue to be tight.

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