Shares of Microchip Technology Inc. MCHP, -1.92% slid 1.92% to $72.37 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX, -0.51% falling 0.51% to 4,551.68 and Dow Jones Industrial Average DJIA, -0.74% falling 0.74% to 35,490.69. This was the stock’s second consecutive day of losses. Microchip Technology Inc. closed $10.97 short of its 52-week high ($83.34), which the company achieved on February 17th.
The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Texas Instruments Inc. TXN, -5.02% fell 5.02% to $187.10, Analog Devices Inc. ADI, -5.24% fell 5.24% to $170.46, and STMicroelectronics N.V. STM, +0.63% rose 0.63% to $45.03. Trading volume (5.1 M) eclipsed its 50-day average volume of 3.6 M.