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Semtech: Fiscal 2Q Earnings Snapshot

August 28, 2019

CAMARILLO, Calif. (AP) _ Semtech Corp. (SMTC) on Wednesday reported fiscal second-quarter earnings of $5.4 million.

On a per-share basis, the Camarillo, California-based company said it had profit of 8 cents. Earnings, adjusted for stock option expense and pretax expenses, were 38 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The chipmaker posted revenue of $137.1 million in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $134.7 million.

For the current quarter ending in November, Semtech expects its per-share earnings to range from 38 cents to 42 cents.

The company said it expects revenue in the range of $135 million to $145 million for the fiscal third quarter.

Semtech shares have dropped slightly more than 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $42.95, a decline of 14% 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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