Semtech Fiscal Q4 Swings to Loss, Revenue Rises; Fiscal Q1 Guidance Set; Shares Surge After Hours

4:40 PM ET 03/28/2024 - MT Newswires

Analysts polled by Capital IQ expected a loss of $0.04.

Net sales for the quarter ended Jan. 28 were $192.9 million, up from $167.5 million a year earlier. Analysts surveyed by Capital IQ expected $190.7 million.

The company said it expects fiscal Q1 non-GAAP earnings of $0.00 per diluted share, plus/minus $0.04. Analysts surveyed by Capital IQ expect earnings of $0.01. The company expects net sales for the quarter of $200 million, plus/minus $5 million. Analysts polled by Capital IQ expect $195.3 million.

Company shares were up nearly 10% in after-hours trading.

Price: 30.22, Change: +2.73, Percent Change: +9.93

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