CHANDLER (dpa-AFX) - Microchip Technology Inc. (MCHP) rose to $62.08, increasing $5.37, after announcing a new technology that halves the power required to measure energy consumption in portable devices.
The innovation is expected to improve battery life and energy efficiency across a broad range of battery-powered electronics.
On the day of the announcement, MCHP saw significantly higher trading volume as investors responded to the potential boost in demand for energy-efficient chips. The stock's 52-week range is approximately $48.50 - $67.90.
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