Microchip Technology (MCHP) Stock Falls Over 2%, Trims Earlier Steep Losses
NEW YORK, USA – Shares of Microchip Technology Inc (NASDAQ: MCHP) were trading in negative territory during Tuesday’s afternoon session, despite recovering a significant portion of earlier losses.
As of 12:59:08 PM Eastern Time (UTC-4) on April 11th, the semiconductor manufacturer’s stock was priced at 0.84 per share for the day.
The current price sits below the previous closing value of $38.81. However, the intraday chart reveals a volatile session. After opening sharply lower and hitting lows near the $35.60 mark early in the trading day, MCHP staged a steady recovery, climbing back consistently throughout the morning and into the midday session to reach near the $38.00 level.
Despite this significant rebound from the session’s lows, Microchip stock remained down compared to its prior close as trading continued on the NASDAQ exchange.
