Semtech shares rose 6% in after-hours trading after the company reported earnings and sales guidance that exceeded estimates.
Shares were up to $40.99 Wednesday after the close. They were 3.5% higher, at $38.68, during the regular session.
Semtech said it expects second-quarter earnings per share of 9 cents, plus or minus 3 cents, and sales of $212 million, plus or minus $5 million. Analysts surveyed by FactSet are looking for EPS of 12 cents and sales of $210.2 million.
The company reported first-quarter sales of $206.1 million, and a loss of 36 cents a share. Analysts expected sales of $206.1 million and EPS of 6 cents.
Semtech is a semiconductor, IoT systems and cloud connectivity service provider.