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Semtech Corp. (SMTC) Is Losing Ground Despite Q1 Earnings Beat

Semtech Corp. (SMTC) reported first quarter adjusted EPS of $0.47 after the close Wednesday, which topped the consensus estimate of $0.46. The company expects to report second quarter adjusted EPS of $0.50 to $0.58. Street expectations are for EPS of $0.53. The stock is now down 1.25 on 19K shares.

Semtech traded in a range throughout Wednesday's session and closed up by 0.50 at $45.30.

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