Semtech: Fiscal 2Q Earnings Snapshot
Aug. 29, 2018
CAMARILLO, Calif. (AP) _ Semtech Corp. (SMTC) on Wednesday reported fiscal second-quarter net income of $25.2 million.
On a per-share basis, the Camarillo, California-based company said it had profit of 37 cents. Earnings, adjusted for one-time gains and costs, came to 55 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The chipmaker posted revenue of $163.2 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $161.3 million.
For the current quarter ending in November, Semtech expects its per-share earnings to range from 58 cents to 64 cents.
The company said it expects revenue in the range of $168 million to $178 million for the fiscal third quarter.
Semtech shares have increased 46 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $49.90, a climb of 33 percent in the last 12 months.