The Latest Breaking News from Semtech

Wall Street’s high price estimates suggests potential upside of 106% and 35%, respectively, for these two growth stocks over the coming year.

The Russell 2000 Index witnessed relatively modest gains over the past year compared to the rally seen in the tech stocks. However, the scenario is expected to change in 2024 and here are 5 stocks from the index poised for a sizeable upside from current levels.

As AI progresses in full swing into 2024, Wall Street believes these two top tech stocks are well-positioned to capitalize on the opportunity.

Not all chip stocks are putting up Nvidia-style numbers in 2023. Here's a look at three beaten-down semiconductor stock picks that analysts still like heading into 2024.

EV chip play Allegro Microsystems and CubeSmart will join the S&P MidCap 400, along with some S&P 600 moves. ALGM stock is set to break out.

The Dow Jones moved higher into the close while blue chip stocks gained in heavy volume. Defensive sectors led the upside on Thursday.

Upgrades

Chipmaker Semtech beat Wall Street's targets for its fiscal second quarter but missed the mark with its outlook for the current quarter.

 

According to Benzinga Pro, during Q1, Semtech (NASDAQ:SMTC) earned $38.05 million, a 9.36% increase from the preceding quarter. Semtech also posted a total of $202.15 million in sales, a 6.09% increase since Q4.

Concerns over red-hot inflation and the Fed’s aggressive interest rate hikes have led several fundamentally sound stocks to plummet in price this year. QUALCOMM (QCOM), Semtech (SMTC), and Good Times Restaurants (GTIM) have declined 30%-40% year-to-date, but these stocks are poised to stage a rebound in the near term. So,…