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Semtech Corp. (SMTC) Surged To A 7-Month High On Q3 Results

Semtech Corp. (SMTC: Quote) reported third quarter adjusted EPS of $0.53 Thursday morning, compared to $0.52 a year ago. The consensus estimate was for EPS of $0.43. Fourth quarter adjusted EPS is expected to be between $0.41 and $0.45, compared to the consensus estimate of $0.41.

Semtech gapped open sharply higher Thursday, but was range-bound throughout the session. The stock closed up by 2.94 at $27.86 on the highest volume of the year. Semtech broke out to its highest level in over 7 months.

by RTT Staff Writer

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