Microchip Technology jumps on new power-management chips
-0.92% to $77.97 from $78.69
What moved MCHP
- Microchip Technology was the top gainer on the Nasdaq Composite after unveiling new digital power monitors aligned with growing demand for 48-volt power architectures.
- The move builds on the company’s prior guidance for September-quarter net sales to rise 7% to 9% sequentially, supported by a recovering automotive and industrial business.
- The company also cited traction in PCIe Gen 6 and other data-center products as part of investors’ recovery narrative for the stock.
Sources: Yahoo Finance · Quiver Quantitative