🔴 SMTC is trading 7.3% down today on profit-taking after earnings rally

SMTC is trading 7.3% down today at $154.21 as the stock pulls back and gives back a portion of its sharp post-earnings gains.

• The company initially surged on May 28 after reporting first-quarter revenue of $291.0 million and issuing upbeat guidance for the second quarter.
• With no new company-specific announcements today, the decline appears to be driven by profit-taking and a fade of the recent earnings-driven momentum.
• The move is notably stock-specific, as the broader markets are trading slightly higher during the early session.