Semtech Corporation is trading 5.8% up today at $163.23 as the stock continues its positive momentum following strong earnings and news of its upcoming inclusion in a major stock index.
- Positive sentiment was significantly boosted by the June 8 announcement that SMTC will be added to the S&P MidCap 400 index, effective prior to the market open on June 22.
- Inclusion in the index often leads to increased buying from passive funds that track it, driving share price momentum.
- The stock is also continuing to benefit from its Q1 2027 earnings and revenue beat reported on May 26.