Semtech Corporation (SMTC) saw a big move last session, as the company’s shares fell nearly 13% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. The stock gained 7.4% from May 5 to May 27, but then plunged 12.8% yesterday.
On May 27, 2015, Semtech reported first-quarter fiscal 2016 earnings of 22 cents per share, missing the Street expectations.
This analog and mixed-signal semiconductor products manufacturer has seen a flat track record when it comes to current year estimate revisions, as there has been no revision on either side over the past few weeks. The consensus for earnings estimate hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
SMTC currently has a Zacks Rank #3 (Hold).
A better-ranked stock in the semiconductor space is Fairchild Semiconductor International Inc. (FCS), which currently carries a Zacks Rank #1 (Strong Buy).
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