🟢 Semtech is trading 4.3% up today on a broad semiconductor rally

Semtech is trading 4.3% up at $119.50 in pre-market, extending a sharp rebound following an 11.5% surge on July 30.

• The move is tied to a sector-wide recovery in chip stocks, with the SOXX ETF gaining over 3% in pre-market trading.
• Gains are fueled by strong AI- and cloud-related earnings from large-cap tech names rather than company-specific news.