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

Semtech

06/12/2023 23:36

* Semtech Corp  SMTC.OQ  reported quarterly adjusted
earnings of 2
cents​​ per share for the quarter ended in October, lower than
the same quarter last year, when the company reported EPS of 65
cents.  The mean expectation of thirteen analysts for the
quarter was for a loss of 13 cents per share. Wall Street
expected results to range from -21 cents to 10 cents per share.
    * Revenue rose 13.1% to $200.90 million from a year ago;
analysts
expected $204.49 million. 
    * Semtech Corp's reported EPS for the quarter was a loss
of 60
cents​.
    * The company reported a quarterly loss of $38.25 million.
    * Semtech Corp shares had fallen by 35.2% this quarter and
lost 41.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 215%
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 10 "strong buy" or "buy," 4
"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
$30.00 
This summary was machine generated from LSEG data December 6 at
11:35 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
 Oct. 31 2023      -0.13          0.02           Beat
 Jul. 31 2023      0.02           0.11           Beat
 Apr. 30 2023      -0.08          0.02           Beat
 Jan. 31 2023      0.48           0.47           Missed