On August 26, Semtech rose 5.24% overnight, trading at $134.2/share, with turnover of $4,928.4.

On the news front, Semtech reported fiscal Q2 non-GAAP earnings of $0.71 per diluted share, beating the analyst consensus estimate of $0.57 by approximately 24.6% and representing a 73.2% increase from $0.41 in the year-ago period. Revenue came in at $341.9 million, surpassing the $328.6 million estimate. The company also issued Q3 guidance. Management had previously indicated that its data center business grew 85% year-over-year in Q2, while in mid-August the company commenced mass production of two new LoRa Plus transceivers, the LR2022 and LR2012, which together with the previously launched LR2021 form a complete three-chip product matrix covering sub-GHz IoT applications through satellite connectivity.

The strong earnings performance, combined with continued product line expansion, provided dual fundamental and product-level support for the stock.

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