Is Semtech Stock Still Worth Buying After Its 190% YTD Rally?

Semtech Corporation (SMTC) has delivered a stellar performance in 2024, with its stock skyrocketing 190% year to date (YTD), outperforming the broader market and industry peers. The Zacks Semiconductor - Analog and Mixed industry has declined 8.3% YTD. Semtech has outperformed the Zacks Computer and Technology sector and the S&P 500’s return of 30.4% and 24%, respectively.SMTC has also outperformed its industry peers, including Analog Devices (ADI) , ON Semiconductors (ON) and NXP Semiconductors (NXPI) . Th ...