Another potential earnings short-squeeze play is semiconductors player Semtech ( SMTC), which is set to report results on Wednesday after the market close. This company is a supplier of analog and mixed-signal semiconductor products. Wall Street analysts, on average, expect Semtech to report revenue of $119.94 million on earnings of 31 cents per share. If you're looking for a beaten-down tech stock with a decent short interest ahead of its earnings, then make a strong look at shares of Semtech. During the last four months, this stock has dropped from its high of $30.48 to a recent low of $23.78 a share. That beat-down has pushed shares of Semtech into oversold territory since its current RSI reading is 34.61. The current short interest as a percentage of the float for Semtech stands at 5.1%. That means that out of the 63.45 million shares in the tradable float 3.49 million shares are sold short by the bears. This isn't a huge short interest, but it's more than enough to spark a solid spike higher if the bulls get the news they're looking for out of Semtech. >>5 Tech Stocks to Buy Instead of Facebook From a technical perspective, SMTC is currently trading below both its 50-day and 200-day moving averages, which is bearish. During the last four months, this stock has been trending lower with shares consistently making lower highs and lower lows, which is bearish price action. That said, SMTC has started to find some buying interest recently off some previous support zones at $23 a share. If you're in the bull camp on SMTC, I would wait until after it releases earnings and target long-biased trades if it can manage to break out above its 200-day moving average of $25.04, and then some near-term overhead resistance at $25.58 with high-volume. Look for volume on that move that registers close to or well above its three-month average volume of 496,240 shares. If we get that action, then SMTC could hit its 50-day moving average of $27 or possibly some past resistance at $28.18 to $29.26 a share. I would simply avoid SMTC or look for short-biased trades if after earnings this stock fails to trigger that move back above its 200-day, and then takes out some near-term support at $23.78 to $22.10 a share with heavy volume. If we get that action, then this stock could easily drop back below $20 a share post-earnings.