Semtech Shares Surge on AI Demand, Institutional Confidence

Semtechs stock surged by 2.7% in afternoon trading, driven by robust demand for AI connectivity solutions in industrial and data center markets. The companys Tri-Edge, CopperEdge, and LoRa devices are gaining traction, with investment firm Portolan Capital Management increasing its stake by 48 million dollars. Despite initial volatility, Semtechs stock closed at $75.61, up 3.6% from the previous day. Meanwhile, Micron shares skyrocketed by 11% on upbeat sales guidance, reflecting strong AI chip demand and supply constraints. Semtechs stock has risen by 21.8% since January, nearing its 52-week high, as AI continues to fuel the chip industrys growth.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.