Why Semtech Corporation (SMTC) Stock Is Up Today

NEW YORK (TheStreet) -- Semtech Corporation (SMTC) stock is gaining after exceeding analysts' estimates in its first quarter. By early afternoon, shares had added 5.8% to $24.56.

Over the three months to April, the semiconductor company earned 32 cents a share, 2 cents higher than analysts surveyed by Thomson Reuters expected. 

Revenue of $132.9 million slipped 18.2% year over year, but beat estimates of $130.27 million.

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TheStreet Ratings team rates SEMTECH CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

"We rate SEMTECH CORP (SMTC) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."

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