Chip Stock Hits 2-Year Highs on Beat-and-Raise
Portfolio Pulse from
Semtech Corp (NASDAQ:SMTC) stock surged 16% after the company reported better-than-expected third-quarter results and raised its current-quarter revenue forecast.
November 26, 2024 | 4:15 pm
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Semtech Corp's stock price increased by 16% following the announcement of better-than-expected third-quarter results and an upward revision of its current-quarter revenue forecast.
The significant stock price increase is directly linked to the company's strong financial performance in Q3 and the positive outlook for the current quarter, which boosts investor confidence.
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