On June 5, Semtech fell 6.38% in regular trading, trading at $159.0/share, with trading volume of $68.43 million.
On the news front, the semiconductor sector experienced systemic selling pressure for a third consecutive day, dragging Semtech lower alongside peers. Within the sector, Marvell Technology fell 8.46%, Micron Technology fell 7.33%, Advanced Micro Devices fell 6.66%, Broadcom fell 4.23%, and NVIDIA fell 3.22%, reflecting broad-based weakness across the industry.
Semtech had previously rallied sharply following strong fiscal Q1 results — adjusted EPS of $0.51 beat consensus by 13.33% with 34.21% year-over-year growth, while revenue of $291 million grew 12.9%. The company also guided Q2 adjusted EPS of $0.59–$0.63, well above the $0.51 analyst estimate. Morgan Stanley subsequently raised its target price to $175, citing accelerating AI optical business and record data center revenue. However, under sustained sector-wide pressure, prior gains have been progressively retraced.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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