Microchip (MCHP) stock: rating downgrade as a double top forms

Microchip Technology (NASDAQ: MCHP) stock price has plunged hard this year, underperforming other semiconductor companies. The shares retreated to $81.6 on Friday, much lower than the December high of$94.23. This means that the stock has dropped by more than 13%, meaning it has moved into a correction.Growth concerns remainCopy link to sectionMicrochip Technology is a company in the semiconductor industry that manufactures products used in most industries like computing, data centers, and Internet of Thing ...