Semtech -19% pre-market on Q4 guidance cut, B. Riley downgrade to Sell

|About: Semtech Corporation (SMTC)|By:, SA News Editor

Semtech (SMTC) shares plunge 19% in pre-market trading after the company slashed its Q4 guidance yesterday afternoon.

Not helping the stock: B. Riley downgrades shares to Sell from Neutral with a PT of $22 from $30 previously.