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Semtech: Fiscal 3Q Earnings Snapshot

November 28, 2018

CAMARILLO, Calif. (AP) _ Semtech Corp. (SMTC) on Wednesday reported fiscal third-quarter net income of $12.2 million.

The Camarillo, California-based company said it had net income of 18 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 63 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The chipmaker posted revenue of $173.6 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $173.2 million.

For the current quarter ending in January, Semtech expects its per-share earnings to range from 53 cents to 57 cents.

The company said it expects revenue in the range of $155 million to $165 million for the fiscal fourth quarter.

Semtech shares have climbed 41 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $48.14, a climb of 24 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMTC at https://www.zacks.com/ap/SMTC

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