Semtech Corp reports results for the quarter ended in April - Earnings Summary

Semtech

05/06/2024 22:02

* Semtech Corp  SMTC.OQ  reported quarterly adjusted
earnings of 6
cents​​ per share for the quarter ended in April, higher than
the same quarter last year, when the company reported EPS of 2
cents.  The mean expectation of thirteen analysts for the
quarter was for breakeven results per share. Wall Street
expected results to range from zero cents to 2 cents per share.
    * Revenue fell 12.9% to $206.11 million from a year ago;
analysts
expected $200.15 million. 
    * Semtech Corp's reported EPS for the quarter was a loss
of 36
cents​.
    * The company reported a quarterly loss of $23.16 million.
    * Semtech Corp shares had risen by 36.0% this quarter and
gained 70.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 73.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 12 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
semiconductors peer
group is also "buy"

Wall Street's median 12-month price target for Semtech Corp is
$42.00 
This summary was machine generated from LSEG data June 5 at
09:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Apr. 30 2024      0.00           0.06           Beat
 Jan. 31 2024      -0.03          -0.06          Missed
 Oct. 31 2023      -0.13          0.02           Beat
 Jul. 31 2023      0.02           0.11           Beat