Breaking a key level to the upside in a clean regression trend combined with positive analyst expectations makes me believe this is a buy for maybe next few months.
Semtech once a $6 billion company has been beat down to a current market cap of $1.48 billion losing roughly 80% of its market cap. Today is a significant day for this stock as I believe today could mark the bottom in Semtech as we are about to hear from the newly appointed CEO Paul Pickle in the earnings call after the market shut.
Semtech were scheduled to...
There is a curious situation brewing in a small-cap supplier of semiconductors. I say “small cap” because this once mighty mid-cap company has been torched down to a market capitalization of just $1.5 billion. It began last year at $89 per share, and currently sits at $24. Compared to the broader semiconductor space, Semtec ( NASDAQ:SMTC ) has grossly...
Analyzing the options chain and the chart patterns of SMTC Semtech Corporation prior to the earnings report this week,
I would consider purchasing the 26usd strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $0.73.
If these options prove to be profitable prior to the earnings release, I would sell at least half of...
NASDAQ:SMTC will show a good results within 6 years (+200%). Stable, sustainable company with a helpful business.
It will give much more in 15 years if you are ready to wait ).
Does not constitute a recommendation.
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SPY -creeping up towards the 407.50 pivot has investors await more economic data from PCE this morning. We will see how the market reacts to the values at 8:30 as consumer spending accounts for 2 thirds of the US economy and signs of cooling inflation could push the market higher. However, investors might be pricing in this data. Either way, which even direction...
Things to have in mind:
I've graphed a few historic values that most analysts have in their notes.
Semtech Corp reports their earnings tomorrow AMC: I'm anticipating the market will sell the surprise.
The %B is at a good value to "signal overbought".
As investors we seek good great companies at good price. With $SMTC being at $26.74 both these conditions are met by a great margin.
SMTC is a mid-size provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, sustaining...
Potential trade setup in SMTC .
Approaching old highs on strong momentum and volume.
Indicators bullish and room to run.
Dependent on tech sector strength
Possible entry above $64.50
Targets $67.88 $70.00
As shown in the chart, we broke a bear flag.
Technicals
RSI is weak but growing.
OBV hasn't been this high since early 2000's.
If we can break the 200SMA line with strong technical indicators and volume. I see SMTC as a possible cheap high growing company.
Heavy support/resistance lines:
Resistance: $55
Support: $37.5
