Semtech Corp soars on surprise Q3 profit
07/12/2023 10:52
** Shares of semiconductor supplier Semtech Corp SMTC.O
rise 11.9% to $18.68 premarket
** Co posts Q3 non-GAAP EPS of 2 cents; analysts on average
estimated a loss of 13 cents - LSEG data
** Quarterly revenue increases to $200.9 mln from $177.6 mln
a year earlier
** Eleven of 14 brokerages rate the stock "buy" or higher,
three "hold"; their median price target is $30
** Up to Wednesday's close, stock had fallen 41.8% YTD
(Reporting by Khushi Singh)
((Khushi.Singh@thomsonreuters.com;))