SMTC Stock Recent News

Semtech easily exceeded earnings estimates thanks to cost-cutting initiatives. The company issued conservative forward guidance given current macro uncertainties and high channel inventory.

Semtech Corporation shares rose as investors digested the company's second quarter results and weaker-than-expected guidance that sent its stock lower in after-hours trading on Wednesday. The semiconductor company's shares had gained 5.7% at US$24.17 early on Thursday afternoon to be flat week-over-week.

Semtech's (SMTC) fiscal second-quarter 2024 results benefit from strength in the IoT System and industrial market.

Semtech Corporation (NASDAQ:SMTC ) Q2 2024 Earnings Conference Call September 13, 2023 5:00 PM ET Company Participants Emeka Chukwu - Executive Vice President and Chief Financial Officer Paul Pickle - President and Chief Executive Officer Conference Call Participants Quinn Bolton - Needham & Company Craig Ellis - B. Riley Securities Anthony Stoss - Craig-Hallum Harsh Kumar - Piper Sandler Tore Svanberg - Stifel Scott Searle - Roth MKM Christopher Rolland - Susquehanna Cody Acree - The Benchmark Company Operator Greetings and welcome to the Semtech Corporation Conference Call to discuss the Second Quarter Fiscal Year 2024 Financial Results.

Although the revenue and EPS for Semtech (SMTC) give a sense of how its business performed in the quarter ended July 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Semtech (SMTC) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.87 per share a year ago.

Semtech Corp. shares fell Wednesday after the analog and mixed-signal chip maker forecast a loss for the current quarter while Wall Street expected a profit.

Shares of Semtech Corporation fell more than 5% in extended trading Wednesday despite surpassing Street expectations with its fiscal second-quarter results, thanks to weaker-than-expected guidance.  The semiconductor company posted revenue of $238.4 million, up 13.9% year-over-year, and adjusted earnings of $0.11 per share.

Semtech Corp. welcomed a new chief financial officer into the fold Friday, but lost a stock analyst's coverage a few hours later, as the analog and mixed-signal chip maker prepares for a delayed earnings report on Wednesday.

Semtech Corp. SMTC, -1.82% said late Friday its board appointed Mark Lin as the company's new chief financial officer to succeed Emeka Chukwu. The analog and mixed-signal chip maker said Lin's appointment becomes effective once he starts employment with the company, no later than Oct. 4.