Shares of Microchip Technology Inc. MCHP, +4.96% advanced 4.96% to $69.20 Tuesday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +2.02% rising 2.02% to 4,088.85 and the Dow Jones Industrial Average DJIA, +1.34% rising 1.34% to 32,654.59. Microchip Technology Inc. closed $20.80 short of its 52-week high ($90.00), which the company reached on December 28th.
The stock outperformed some of its competitors Tuesday, as Texas Instruments Inc. TXN, +3.85% rose 3.85% to $174.98, Analog Devices Inc. ADI, +4.07% rose 4.07% to $163.84, and STMicroelectronics N.V. STM, +4.89% rose 4.89% to $40.57. Trading volume (5.0 M) remained 180,126 below its 50-day average volume of 5.2 M.
U.S. stocks end sharply higher Tuesday, after retail sales data for April suggest the economy remained healthy and as investors weigh remarks by Federal Reserve Chairman Jerome Powell.
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