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Semtech Corporation

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SMTC trade ideas

SMTC - JUNE 24 MATrend Unsustainable MomentumGood initial momentum candle and the larger chart trend aligns with our direction Exit Requirements (15M Chart) - Selected 10SMA Cross as it historical was more synced with price movement - Move BE when price hits 0 Fib MATrend Unsustainable Momentum (Systematic) ⏪ The strategy identifies stocks (Tech sector ) that follows the larger market regime's momentum of the day and because they are unable to maintain it price breaks down quickly Tight stops aligned to the price behaviour we are trying to capture. Which is a rapid break of the momentum.
NASDAQ:SMTCShort
by Ronin_trader
A great buying opportunity in a beat up midcap stock 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 report earnings on September 7th however the report was postponed until today (13th September) due to a late filing request from Semtech. Less than 24 hours later their CFO was sacked with an announcement from Semtech stating that they have appointed Mark Lin as their new CFO. CEO Paul Pickle is expected to speak on the earnings call later today and I expect to hear a clean path forward laid down by Paul which will detail how he plans on returning the company back to high growth. I also expect to hear from Paul Pickle that he plans to cost cut which will ultimately improve the companies margins. CEO Paul Pickle has a great track record increasing revenue and market cap as he showcased with Lantronix where he 3X the revenue & 2X the companies market cap whilst in charge. Clearly behind the scenes this company has management issues, but seeing their previous CFO get sacked for late filling shows me that Paul means business and I expect to see a positive reaction in the stock after hours on Pauls guidance for the company moving forward. The stock is down -15% in the past 7 days moving into the print and I wouldn't be surprised to see the company pop +20% if the numbers come in strong and Paul announces a clear plan to get the company back to its winning ways.
NASDAQ:SMTCLong
by DailyMarketMovements
23
$SMTC - Short Catalyst 09/13There 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 underperformed. And now their earnings is scheduled for Sept. 13, presenting a catalyst opportunity. Surely this means I’m bullish on a potential regression to the mean? Actually, no. Last Thursday, Sept. 7th, I purchased 100 puts for October 20th at the $20 strike. Why? 1. Delayed Earnings Originally scheduled for 09/07, SMTC announced on 09/06 that their earnings would be delayed. Companies that postpone a previously announced earnings release date underperform the broad market by 2.44% in the 3 days surrounding the announcement. These companies are also likely to report deteriorating fundamentals, with earnings per share down by about 16% compared to the same period a year ago. 2. Reason for Earnings Delay Not all earnings delays are created equal. For instance, an act of god, such as weather, or a pandemic, such as Covid, can result in generally muted impacts to the stock. The problem is that SMTC delayed earnings because “…the Company is working diligently to complete certain procedures to conclude whether a valuation allowance is to be recorded against certain deferred tax assets” - from SMTC investors page. Given SMTC’s recent acquisition, this calls into question their ability to generate sufficient future taxable income, which is bizarre and a red flag. 3. Sudden Change Notice of CFO On Sept. 08, it crossed the wire that current CFO Emeka Chukwu would be succeeded by Mark Lin no later than Oct. 4th. Combined with the reasons for the earnings delay, this reeks of potential financial mismanagement, liability concerns, and damage control. Position: I purchased 100 Oct. 20 $20 puts.
NASDAQ:SMTCShort
by Extractio
3
Watchlist 2023-03-31 $SPY $IONQ $RUM $ASTSSPY -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 the market picks could be telling for the rest of the day. UPDATE - PCE data seemed to be a non-event as volatility didn't pick up. Remember, for a trend day we'll need to see the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating past 0 wicking to +/-900. $RUM - digital platform liked to Trump media. Thursday Q4 break-even earnings per share, compared with a per-share loss of $0.06 a year earlier, increasing quarterly rev by seven -fold. Only gapping 1.6 ATRS on 2.2 RVOL into key 10.50 flat top support (which is a 101/10 technical level). $IONQ - Loss Narrows, Revenue Rises; Issues Q1, 2023 Guidance. If it stays above 5.30 and vol picks up, we could see 5.67 pivot and 20 EMA tested. Inflection support at 5. I'm seeing a cup and handle action on this name, it's a tech stock so relative strength to SPY is needed. $SMTC - had a nice afternoon wedge BO to the 25.30 key pivot resistance but could push through. The relatively low vol in SPY could have been an issue and nothing was moving at EOD. If SMTC can get above and stay above 25. 68 for 2 min off the above, willing to try and scalp opening drive play. Else, if later in the day, 10 min hold is necessary, a retest of the level would be the preferred entry if a BO pattern forms again. $ASTS - gapping below 5.60 range moving 2 ATRs on 1.4 RVOL. Communications sectors seems to be in play so watch XLC. Will need a retest of the key level as RR is not favourable as we are moving further to 5 even level in the PM. Other Watches $PARA - over 21.80
NASDAQ:SMTC
by UnclePennybagss
$SMTC is a BUYAs 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 engineering and supply chain management services. SMTC has facilities in the United States, Mexico, China and Canada. Services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. With great P/FCF of 7.87 and the recent drop in price that brough it to 1.54 from the fair value, the stock is a bargain. My Fair Value analyzer raised the BUY flag and I'm going to get my self a nice piece of this untreated diamond.
NASDAQ:SMTCLong
by wired_max