EuToch
Semtech Corp. (NASDAQ:SMTC) is paring an earlier loss, though is still down 3.5%, amid some takeover speculation.
The semiconductor firm is said to have attracted interest from an unidentified suitor, according to a Betaville "uncooked alert" on Wednesday, which cited people following the matter.
Semtech (SMTC) has a market cap of $2.24 billion. Shares of the semiconductor company had already risen almost 60% year-to-date before the report.
Semtech (SMTC) shares surged almost 25% over two days in late March ahead of its Q4 results, as the semiconductor company appears well positioned to take advantage of the artificial intelligence revolution, according to analysts at Baird.