On August 19, Semtech declined 5.58% in regular trading, trading at $124.34/share, with turnover of $64.21 million. The stock extended its recent multi-day selloff amid persistent weakness across the semiconductor sector, with major peers Broadcom down 5.35%, Intel down 4.63%, and Micron Technology down 1.77%.

The decline occurred despite the company announcing the same day the release of two new transceivers, the LR2022 and LR2012, expanding its LoRa Plus product line into mass production. These fourth-generation LoRa IP-based components complete a three-chip matrix covering sub-GHz IoT applications to satellite-direct multi-band global tracking.

Semtech is scheduled to report quarterly earnings on August 25. UBS recently reiterated a Buy rating with a $225 target price, projecting data center revenue growth potentially exceeding 100% year-over-year and highlighting margin tailwinds from the pending $62 million divestiture of its cellular module business to Compal Electronics.

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