Why Microchip Technology's Stock Jumped Today

Why Microchip Technology's Stock Jumped Today

Shares of Microchip Technology (NASDAQ: MCHP) rose as much as 12.5% on Tuesday morning, peaking near 11 a.m. EDT before backing down to an 11% gain 45 minutes later. The maker of analog and mixed-signal integrated circuits raised its first-quarter guidance after the closing bell on Monday, inspiring a storm of analyst upgrades and raised price targets.