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Semtech Corp. (SMTC) Has Surged To A New High After Q2 Profit Beat

Semtech Corp. (SMTC) reported second quarter adjusted EPS of $0.55 after the bell Wednesday, which beat the consensus estimate of $0.54.

Semtech gapped up at the open Thursday and has spiked higher in early trade. The stock is now up 6.70 at $56.60 on above average volume. Semtech has broken out of a 3-month trading range and has set a new high for the year.

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