Perché le azioni Semtech Corp (SMTC) sono in ribasso?
Semtech Corporation Stock (SMTC) dropped by 19.78% from $19.92 to $15.98 in the trading on Thursday October 19, 2023. The reason why SMTC stock down today is due to a private placement offering. Semtech announced plans to sell $250 million worth of senior convertible notes. Semtech explained that it needs the money in order to prepay term loans outstanding under the Company's senior credit facilities. It's likely this debt issuance is going to raise Semtech's interest costs. If the notes are converted into stock, this move will dilute the company's existing shareholders.
Semtech stock is experiencing a decline on Thursday after the company disclosed its earnings report for the fourth quarter of fiscal year 2023. The company's adjusted earnings per share were 47 cents, which is lower than the anticipated 48 cents per share predicted by Wall Street analysts for the quarter.
https://investorplace.com/2023/03/why-is-semtech-smtc-stock-down-21-today/