🔴 Semtech is trading 4.63% down in pre-market as Nasdaq falls 1.28%

Semtech is trading 4.63% down at $147.08 in pre-market trading, pressured by broader risk-off sentiment weighing on technology and semiconductor shares.

• Nasdaq Composite is down 1.28% and S&P 500 is down 0.56% in pre-market trading.
• Semtech advanced 9.88% to $154.22 on August 17; recent positive analyst commentary and the cellular-business divestiture do not explain today’s decline.
• The move appears primarily global and may reflect profit-taking after the sharp rally.