Microchip Technology stock price drops into earnings week — what MCHP traders watch next
Microchip Technology shares fell 4.4% to $75.92 Friday, trading near session lows as U.S. stocks declined after Kevin Warsh was named to replace Jerome Powell at the Fed. About 12.5 million Microchip shares changed hands. Investors await the company’s fiscal Q3 results and guidance on Feb. 5, focusing on demand trends and backlog conversion.