Semtech Corp gains on upbeat forecast, Q2 results beat
28/08/2024 11:47
** Shares of semiconductor supplier Semtech Corp SMTC.O
rise 5.9% to $40.42 premarket following Q2 results
** Co forecasts Q3 adj. EPS between 20 cents to 26 cents,
compared with Wall Street estimate of 23 cents
** SMTC expects Q3 revenue in the range of $228 mln - $238
mln vs market view of $229 mln - LSEG data
** Q2 revenue of $215.4 mln beat analysts' average estimate
of $212.3 mln
** Quarterly adj. EPS of 11 cents was above market consensus
of 9 cents
** 11 of 13 brokerages rate stock "buy" or higher, two
"hold"; their median PT is $50
** Up to Tuesday's close, stock had risen 74.2% YTD
(Reporting by Khushi Singh in Bengaluru)
((Khushi.Singh@thomsonreuters.com;))