Semtech Shares Jump 3% Following Q4 Results

Semtech Shares Jump 3% Following Q4 Results March 28, 2024, 6:41 p.m., readers: 6

Semtech (NASDAQ:SMTC) experienced a more than 3% increase in its stock price in after-hours trading on Thursday following the announcement of optimistic guidance for the first fiscal quarter of 2025 and surpassing fourth-quarter 2024 revenue forecasts. In Q4, Semtech reported a loss of $0.06 per share, not meeting the expectations of analysts who had anticipated a smaller loss of $0.04 per share. The company achieved a revenue of $192.9 million during this period, exceeding the forecasted $190.72 million. The gross margin was reported at 48.9%, which is higher than the company's previously provided midpoint guidance and also above the 48% estimate. For the upcoming Q1/25, Semtech predicted its earnings per share (EPS) to be around $0.00, slightly below the analysts' expectation of $0.01. Additionally, the company expects its revenue for the quarter to reach approximately $200 million, surpassing the consensus estimate of $195.3 million.