Semtech Shares Rise 6% After Earnings, Sales Guidance Beat Estimates
Semtech shares rose 6% in after-hours trading after the company reported earnings and sales guidance that exceeded estimates.
From the Equity Insider archive. This article dates from Jun 5, 2024 and is preserved as first published.
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.
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.
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.
