For the past 3 qrts of this year SMTC has beat estimates.With year end results due in Feb.,and if SMTC beats estimates (again!) does the price go back to the mid 60's as it did a couple of months ago? What your opinion?
Short term action for SMTC may keep in the high 40's or low 50's due to the unknown stock vote assuming that SMTC will mirror INTC's rise/fall in the semi's markets. SMTC has a different product, and as Atmil, Motorolla, and intel all have earnings problems, so too will people believe that SMTC will have problems too. Believers in SMTC have, and will prosper. Semtech to the optimistic, is definitely posting fantastic numbers and should make a comeback before they get an opportunity to report year end.
--In my official OPINION - people are going to get out of many of their profitable stocks by year end to claim their gains, small cap's do well in Dec & Jan due to that action. Semtech has been getting more positive publicity than many other small caps. Look for a run-up in Dec to around 62 1/2, a resistance pull back, then another rush before earnings, maybe even to this years highs. ( I like a 3 - 1 split mid year - it would be great!)