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SMTC / Semtech Corp. - Initiating With Buy: Inventory Correction Is Over

We're initiating Semtech Corporation with a buy rating. We think the macro weakness has been priced into the stock and its near-term outlook. We now believe the inventory correction for Semtech Corporation's IoT products, accounting for ~50% of sales, will be completed in 2H23, and expect the recovery in 1HCY24 to drive top line growth. Additionally, we think the Signal Integrity and Protection inventory correction is now behind us, with the segments growing 35% and 12% QoQ, respectively, this quarter, accounting for 40% of sales. Read More

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Posted: Oct 12 2023, 18:40

Author Name: Seeking Alpha

SMTC News

By Proactive Investors
October 19, 2023

Semtech shares sink to eight-year low on debt concerns

Semtech shares fell to lows not seen since 2015 after the chipmaker and IoT solutions provider told investors it plans to take on $250 million in new

By The Motley Fool
October 19, 2023

Why Semtech Stock Collapsed by 22% on Thursday

Semtech announced Thursday that it will take on $250 million in new debt. The company will use the money raised by selling that new debt to pay off ol

By Zacks Investment Research
October 13, 2023

Why Is Semtech (SMTC) Down 7% Since Last Earnings Report?

Semtech (SMTC) reported earnings 30 days ago. What's next for the stock?

By Seeking Alpha
October 12, 2023

Semtech Corp. - Initiating With Buy: Inventory Correction Is Over

We're initiating Semtech Corporation with a buy rating. We think the macro weakness has been priced into the stock and its near-term outlook. We now b

By Zacks Investment Research
October 4, 2023

Semtech (SMTC) Showcases FiberEdge Strength at ECOC 2023

Semtech (SMTC) partners with Coherent to demonstrate FiberEdge 200G PAM4 MZM driver, deploying 200G per lane using advanced optics.

By The Motley Fool
September 14, 2023

Why Semtech Stock Popped Today

Semtech easily exceeded earnings estimates thanks to cost-cutting initiatives. The company issued conservative forward guidance given current macro un

By Proactive Investors
September 14, 2023

Semtech shares rebound as investors digest 2Q results

Semtech Corporation shares rose as investors digested the company's second quarter results and weaker-than-expected guidance that sent its stock lower

By Seeking Alpha
September 13, 2023

Semtech Corporation (SMTC) Q2 2024 Earnings Call Transcript

Semtech Corporation (NASDAQ:SMTC ) Q2 2024 Earnings Conference Call September 13, 2023 5:00 PM ET Company Participants Emeka Chukwu - Executive Vice P

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