The Latest Breaking News from Semtech

Wall Street’s high price estimates suggests potential upside of 106% and 35%, respectively, for these two growth stocks over the coming year.

The Russell 2000 Index witnessed relatively modest gains over the past year compared to the rally seen in the tech stocks. However, the scenario is expected to change in 2024 and here are 5 stocks from the index poised for a sizeable upside from current levels.

According to Benzinga Pro, during Q1, Semtech (NASDAQ:SMTC) earned $38.05 million, a 9.36% increase from the preceding quarter. Semtech also posted a total of $202.15 million in sales, a 6.09% increase since Q4.

Concerns over red-hot inflation and the Fed’s aggressive interest rate hikes have led several fundamentally sound stocks to plummet in price this year. QUALCOMM (QCOM), Semtech (SMTC), and Good Times Restaurants (GTIM) have declined 30%-40% year-to-date, but these stocks are poised to stage a rebound in the near term. So,…

Upgrades

Analysts have provided the following ratings for Semtech (NASDAQ:SMTC) within the last quarter:

Semtech (NASDAQ:SMTC) is set to give its latest quarterly earnings report on Wednesday, 2022-06-01. Here's what investors need to know before the announcement. Analysts estimate that Semtech will report an earnings per share (EPS) of $0.76.

Substantial investments by industry leaders and federal government funding are expected to expand the U.S. semiconductor sector considerably. Furthermore, given the overwhelming demand for chips, we think it could be wise to bet on the stocks of quality semiconductor companies QUALCOMM (QCOM), STMicroelectronics (STM), United Microelectronics (UMC), Renesas Electronics (RNECF),…

According to Benzinga Pro, during Q4, Semtech (NASDAQ:SMTC) earned $34.79 million, a 1.06% increase from the preceding quarter. Semtech's sales decreased to $190.55 million, a 2.25% change since Q3.