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Semtech reports second quarter results after stock ends session up 5.4%
Semtech reported results for the second quarter of fiscal year 2027. The stock is up 5.4% on the day at $127.52.
Highlights
- Semtech reported record quarterly net sales of $342 million, marking 10 consecutive quarters of net sales growth.
- Analyst consensus is strongly positive with 49 of 56 rating Semtech stock a buy and none recommending a sell.
- Semtech stock is up 5.4% on the day at $127.52.
Semtech reported results for the second quarter of fiscal year 2027. The company marked 10 consecutive quarters of net sales growth and announced record net sales of $342 million. Among covering analysts, 49 out of 56 rate the stock a buy, with none recommending a sell.
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Stabilization possible as price tests MA-20 and downside momentum weakens
Price is sitting right at resistance from the MA-20 at $127.6. Shares of Semtech have pushed sharply higher over the past week, even as the daily structure remains split, with price below both the MA-20 and MA-50 but above the MA-200. The Stoch RSI sits in oversold territory, a stretched reading that limits room for further downside and could support stabilization here.
Odds favor a move lower as key resistance remains in focus
To determine whether the move has staying power, traders should watch for a close above $127.6 to show buyers are committed. Earlier in the session, shares opened with a gap up from $120.91 to $126, highlighting strong initial demand. Even so, despite the sharp move higher over the past week without a sustained trend, the outlook over the next five trading days skews bearish, with a 25% probability of upside, a 75% probability of downside, and an expected trading range of $117.16 to $137.87. A close above resistance would confirm acceptance, while a drop below $115 would suggest the move is being faded. On the weekly chart, the longer-term picture stays constructive.
Previously it was reported that Semtech shares had struggled to regain technical momentum following the production launch of its new LoRa Plus transceivers. The latest earnings results strengthen the long-term constructive view, but with the stock testing resistance at the MA-20, traders should now monitor for a confirmed break above $127.6 or a retreat below $115 to define the next directional move.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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