Semtech Rallies on Earnings Beat—Is There More Upside?

Semtech TodaySMTCSemtech$41.61 +2.96 (+7.66$21.56▼$79.52Price Target$61.55Add to WatchlistAfter experiencing a wave of concern and a huge drop in its stock, semiconductor company Semtech NASDAQ: SMTC recently revealed some much-needed good news. Semtech shares sold off over 31% in one day in early February, around 10 days before the broad selloff in the technology sector began. Semtech’s large drop was due to a significant near-term reduction in a much hoped-for relationship with NVIDIA NAS ...