Microchip Technology Incorporated (NASDAQ:MCHP) traded today at a new 52-week high of $87.52. This new high was reached on below average trading volume as 202,000 shares traded hands, while the average 30-day volume is approximately 3.7 million shares.
Microchip Technology Incorporated share prices have moved between a 52-week high of $87.52 and a 52-week low of $57.00 and are now trading 51% above that low price at $86.01 per share.
Microchip became an independent company in 1989 when it was spun off from General Instrument. More than half of revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door openers to power windows in autos. The company's strength lies in lower-end 8-bit MCUs that are suitable for a wider range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and analog chips as well.
Microchip Technology Incorporated (NASDAQ:MCHP) is currently priced 24.2% above its average consensus analyst price target of $65.20.
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