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Semtech (SMTC) Soars: Stock Adds 10.9% in Session

Semtech CorporationSMTC was a big mover last session, as the company saw its shares rise nearly 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $32.80 to $35.00 in the past one month time frame.

The move came after the company reported better-than-expected fiscal fourth-quarter 2018 results.

The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Semtech currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Semtech Corporation Price

Semtech Corporation Price | Semtech Corporation Quote

A better-ranked stock in the Semiconductor - Analog and Mixed industry is ON Semiconductor Corporation ON , holding a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

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The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

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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.

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