Microchip Technology Inc. stock outperforms market on strong trading day

Shares of Microchip Technology Inc.
MCHP,
+3.32%
rallied 3.32% to $152.63 Friday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index
SPX,
-0.48%
falling 0.48% to 3,811.15 and Dow Jones Industrial Average
DJIA,
-1.50%
falling 1.50% to 30,932.37. Microchip Technology Inc. closed $14.04 below its 52-week high ($166.67), which the company achieved on February 17th.

The stock outperformed some of its competitors Friday, as Texas Instruments Inc.
TXN,
+1.02%
rose 1.02% to $172.27, Analog Devices Inc.
ADI,
+1.39%
rose 1.39% to $155.82, and STMicroelectronics N.V.
STM,
+0.86%
rose 0.86% to $38.86. Trading volume (3.1 M) eclipsed its 50-day average volume of 2.1 M.

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