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

Semtech

27/08/2024 22:54

* Semtech Corp  SMTC.OQ  reported quarterly adjusted
earnings of
11 cents​​ per share for the quarter ended in July, identical to
the same quarter last year.  The mean expectation of
thirteen analysts for the quarter was for earnings of 9 cents
per share. Wall Street expected results to range from 9 cents
to 11 cents per share.
    * Revenue fell 9.6% to $215.40 million from a year ago;
analysts
expected $212.30 million. 
    * Semtech Corp's reported EPS for the quarter was a loss of
$2.61​.
    * The company reported a quarterly loss of $170.3 million.
    * Semtech Corp shares had risen by 23.9% this quarter and
gained 69.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 10.6%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

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
$50.00 
This summary was machine generated from LSEG data August 27 at
09:53 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
 Jul. 31 2024      0.09           0.11           Beat
 Apr. 30 2024      0.00           0.06           Beat
 Jan. 31 2024      -0.03          -0.06          Missed
 Oct. 31 2023      -0.13          0.02           Beat