Microchip Technology Inc said it would purchase Taiwanese wireless products maker ISSC Technologies Corp to gain ground in a technology that helps connect everything from cars to lightbulbs through the Internet.Microchip, which makes memory and analog chips, has been trying to cash in on the "Internet of Things", like other technology companies such as Intel Corp, Cisco Systems Inc and Nvidia Corp.Intel set up a business division last year, aimed at making money out of the new technology wave that can link a host of electronic devices.Zebra Technologies Corp, whose products help companies such as Amazon Inc track inventory and supply chains, said in April it would buy Motorola Solutions Inc's enterprise business to enhance its portfolio of Internet-connected devices.
Cisco Systems, Inc. (Cisco) designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. Shares of CSCO fell by 0.49% or $-0.12/share to $24.36. In the past year, the shares have traded as low as $20.22 and as high as $26.49. On average, 40583600 shares of CSCO exchange hands on a given day and today's volume is recorded at 7727406.
Microchip Technology Incorporated develops and manufactures specialized semiconductor products used by its customers for a variety of embedded control applications. Shares of MCHP traded higher by 1.1% or $0.51/share to $46.85. In the past year, the shares have traded as low as $35.74 and as high as $49.03. On average, 1570660 shares of MCHP exchange hands on a given day and today's volume is recorded at 275962.
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