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Microchip Technology Inc. stock falls Monday, underperforms market

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Shares of Microchip Technology Inc.
MCHP,
-2.16%

slipped 2.16% to $72.25 Monday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index
SPX,
-0.39%

falling 0.39% to 3,949.94 and Dow Jones Industrial Average
DJIA,
-0.13%

falling 0.13% to 33,700.28. The stock’s fall snapped a two-day winning streak. Microchip Technology Inc. closed $17.75 short of its 52-week high ($90.00), which the company achieved on December 28th.

The stock underperformed when compared to some of its competitors Monday, as Texas Instruments Inc.
TXN,
-1.59%

fell 1.59% to $172.40, Analog Devices Inc.
ADI,
-1.61%

fell 1.61% to $159.24, and STMicroelectronics N.V.
STM,
-1.57%

fell 1.57% to $37.71. Trading volume (4.2 M) remained 1.1 million below its 50-day average volume of 5.3 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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