Shares of Microchip Technology Inc. MCHP, -1.60% advanced 2.78% to $89.35 Monday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, -0.15% rising 1.38% to 4,791.19 and the Dow Jones Industrial Average DJIA, +0.25% rising 0.98% to 36,302.38. This was the stock’s fourth consecutive day of gains. Microchip Technology Inc. hit a new 52-week high, surpassing its previous peak of $89.04, which the company reached on December 9th.
The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Texas Instruments Inc. TXN, -0.64% rose 2.37% to $191.84, Analog Devices Inc. ADI, -0.51% rose 1.63% to $175.47, and STMicroelectronics N.V. STM, -0.84% rose 3.11% to $50.10. Trading volume (2.3 M) remained 1.8 million below its 50-day average volume of 4.0 M.
On Friday, Chinese regulators released a draft of new policies for companies wishing to offer shares in foreign countries. It's not providing much of a boost.
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