Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Semtech Stock Plunged Today

TheMotleyFool

0 0

Shares of Semtech (NASDAQ: SMTC) were down by almost 30% as of 1:33 p.m. ET Thursday after the chipmaker reported earnings results for its fiscal second quarter, which ended July 31.

For the quarter, revenue grew 13% year over year and 3.5% over the previous quarter. That was a deceleration in growth compared to its fiscal first quarter, when the top line grew by 19% year over year. What's more, a weakening economic backdrop caused management to issue a cautious outlook for the second half of the year.

Year to date, the stock is down 64% as the market anticipates a rough short-term stretch for the chipmaker.

Source Fool.com

Like: 0

SMTC

Share