Microchip Technology Inc. stock underperforms Wednesday when compared to competitors despite daily gains – MarketWatch

Shares of Microchip Technology Inc. MCHP, -0.35% inched 0.08% higher to $59.32 Wednesday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX, -0.85% falling 0.67% to 3,695.16 and Dow Jones Industrial Average DJIA, -0.32% falling 0.33% to 30,423.81. This was the stock’s third consecutive day of gains. Microchip Technology Inc. closed $30.68 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, +0.29% rose 0.75% to $152.65, Analog Devices Inc. ADI, +0.52% rose 0.16% to $141.33, and STMicroelectronics N.V. STM, +0.97% fell 0.87% to $31.82. Trading volume (3.5 M) remained 1.3 million below its 50-day average volume of 4.8 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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