Semtech's (SMTC) Q3 Earnings Beat, Sales Miss, View Weak
Zacks Investment Research | Nov 30, 2017 10:17PM ET
Semtech Corporation (NASDAQ:SMTC) reported mixed fiscal third-quarter 2018 results with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Non-GAAP earnings of 54 cents per share beat the consensus mark by 5 cents and increased 12.5% sequentially and a massive 45.9% year over year. Earnings came ahead of the guided range of 48–52 cents per share.
Revenues of $150 million missed the consensus mark by $3 million and decreased 1.8% sequentially. However, revenues increased 9.6% year over year. Revenues were toward the higher end of the guided range of $145.0 million to $153.0 million.
Nevertheless, shares have lost 6.8% since the date of release of quarterly results due to an unimpressive guidance for the current quarter. Year to date, shares have gained 7.9%, significantly underperforming the Zacks Investment Research
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