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Stock impact report

Why Microchip Technology (MCHP) Stock Is Down Today [Yahoo! Finance]

Microchip Technology Incorporated (MCHP) 
Last microchip technology incorporated earnings: 2/4 04:10 pm Check Earnings Report
US:NASDAQ Investor Relations: microchip.com/investors
Company Research Source: Yahoo! Finance
The decline occurred as major U.S. stock indexes fell following the release of a jobs report that showed a higher unemployment rate than expected, failing to boost hopes for interest-rate cuts. The tech-heavy Nasdaq fell, and semiconductor stocks, in particular, faced pressure, with the Philadelphia Semiconductor Index dropping 1.1%. The negative market sentiment proved too strong for company-specific positive news to overcome. Notably, Cantor Fitzgerald upgraded Microchip Technology's stock from "Neutral" to "Overweight" and significantly raised its price target, an action that would typically support a stock's price. The shares closed the day at $65.88, down 1.9% from previous close. The stock market overreacts to news, and big price drops can present good opportunties to buy high-quality stocks. Is now the time to buy Microchip Technology? Access our full analysis report here Microchip Technology's shares are very volatile and have had 23 moves greater than 5% over the last Show less Read more
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