Semtech shares are trading higher after the company reported better-than-expected Q2 results but issued weak Q3 guidance. Analyst reactions were mixed following the report.
Portfolio Pulse from Benzinga Newsdesk
Semtech Corporation reported better-than-expected Q2 results but issued weak Q3 guidance. The market reacted positively to the news, but analysts' reactions were mixed.
September 14, 2023 | 3:23 pm
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Semtech's better-than-expected Q2 results led to a rise in its stock price, but the weak Q3 guidance could potentially dampen investor sentiment.
Semtech's stock price rose due to better-than-expected Q2 results, indicating positive market sentiment. However, the weak Q3 guidance could potentially lead to a mixed or negative reaction from investors, which could impact the stock price in the short term.
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