Microchip Technology Inc. stock rises Monday, outperforms market

Shares of Microchip Technology Inc. MCHP,
+3.10%
rallied 3.10% to $67.24 Monday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX,
-0.02%
falling 0.02% to 4,391.69 and Dow Jones Industrial Average DJIA,
-0.11%
falling 0.11% to 34,411.69. Microchip Technology Inc. closed $22.76 short of its 52-week high ($90.00), which the company achieved on December 28th.

The stock outperformed some of its competitors Monday, as Texas Instruments Inc. TXN,
+1.67%
pink 1.67% to $176.56, Analog Devices Inc. ADI,
+2.45%
pink 2.45% to $160.34, and STMicroelectronics NV STM,
+1.53%
pink 1.53% to $37.11. Trading volume (6.8 M) eclipsed its 50-day average volume of 5.4 M.

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