Semtech is trading 7.91% lower at $132.50, amid pressure on technology and chip stocks as investors question AI-related spending and returns.
- No fresh company-specific announcement clearly explains the October 22 decline. The recent B. Riley $210 price target was positive and followed the earlier analyst event, not a new bearish catalyst.
- Middle East tensions and higher oil prices weighed on risk sentiment; the Nasdaq was down 1.47%.