On November 11, Semtech posted an Intraday Rise of 7.54% in Regular Trading, trading at $121.25 per share with turnover of $26.9307 million.

The move was supported by the company’s previously raised fiscal third-quarter guidance, alongside a broader rebound in semiconductor shares.

Semtech said adjusted diluted EPS for fiscal Q3 is expected at $1.14, plus or minus $0.02, up from prior guidance of $1.05, plus or minus $0.03, and above the $1.06 market expectation cited in earlier reports. Revenue guidance was lifted to $417.5 million, plus or minus $2.5 million, from $410.0 million, plus or minus $5.0 million, also above prior consensus. Sector strength reinforced the move, with Micron Technology up 7.52%, Broadcom up 5.27%, and Taiwan Semiconductor Manufacturing up 3.2%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)