Semtech: Fiscal 3Q Earnings Snapshot
Posted December 2, 2020 1:39 pm.
Last Updated December 2, 2020 1:48 pm.
This article is more than 5 years old.
CAMARILLO, Calif. (AP) _ Semtech Corp. (SMTC) on Wednesday reported fiscal third-quarter net income of $18.5 million.
The Camarillo, California-based company said it had net income of 28 cents per share. Earnings, adjusted for one-time gains and costs, came to 47 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The chipmaker posted revenue of $154.1 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $149.9 million.
For the current quarter ending in January, Semtech expects its per-share earnings to range from 45 cents to 51 cents.
The company said it expects revenue in the range of $153 million to $163 million for the fiscal fourth quarter.
Semtech shares have climbed 28% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $67.90, a climb of 45% in the last 12 months.
_____
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
The Associated Press
