Microchip Technology stock hits new 52-week high but trails rivals
Updated
Updated · MarketWatch · May 6
Microchip Technology stock hits new 52-week high but trails rivals
8 articles · Updated · MarketWatch · May 6
Shares rose 4.51% to $102.92 on Wednesday, their sixth straight gain, topping the previous $99.08 peak set on 5 May.
The advance came in a broadly stronger market, with the S&P 500 up 1.46% and the Dow Jones Industrial Average gaining 1.24%.
Even so, Microchip lagged key semiconductor peers including AMD, up 18.61%, while trading volume jumped to 13.3 million shares from a 50-day average of 9.2 million.
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