Markets

Semtech Corporation Slumps: SMTC Tumbles 12.8% in Session - Tale of the Tape

Semtech Corporation ( SMTC ) saw a big move last session, as the company's shares fell nearly 13% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. The stock gained 7.4% from May 5 to May 27, but then plunged 12.8% yesterday.

On May 27, 2015, Semtech reported first-quarter fiscal 2016 earnings of 22 cents per share, missing the Street expectations.

This analog and mixed-signal semiconductor products manufacturer has seen a flat track record when it comes to current year estimate revisions, as there has been no revision on either side over the past few weeks. The consensus for earnings estimate hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

SMTC currently has a Zacks Rank #3 (Hold).

A better-ranked stock in the semiconductor space is Fairchild Semiconductor International Inc. ( FCS ), which currently carries a Zacks Rank #1 (Strong Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

SEMTECH CORP (SMTC): Free Stock Analysis Report

FAIRCHILD SEMI (FCS): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

SMTC

Other Topics

Investing Stocks