Microchip Technology Stock Jumps, Leads SOX Index Higher

Microchip Technology (MCHP) stock jumped Friday after the chipmaker delivered a beat-and-raise earnings report. MCHP stock fueled a rise in the Philadelphia semiconductor index, known as SOX. The Chandler, Ariz.-based company late Thursday said it earned an adjusted 76 cents a share on sales of $1.48 billion in its fiscal first quarter ended June 30. Analysts polled by FactSet had…