Shares of Microchip Technology Inc.
rallied 4.63% to $58.75 Thursday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index
rising 1.50% to 3,902.62 and the Dow Jones Industrial Average
rising 1.12% to 31,384.55. This was the stock’s second consecutive day of gains. Microchip Technology Inc. closed $31.25 below its 52-week high ($90.00), which the company reached on December 28th.
The stock outperformed some of its competitors Thursday, as Texas Instruments Inc.
rose 2.57% to $154.69, Analog Devices Inc.
rose 2.67% to $148.57, and STMicroelectronics N.V.
rose 2.46% to $30.82. Trading volume (4.2 M) remained 1.2 million below its 50-day average volume of 5.4 M.