Semtech Q2 Adj $0.11 Beats $0.02 Estimate, Sales $238.37M Beat $237.37M Estimate
Portfolio Pulse from Benzinga Newsdesk
Semtech (NASDAQ:SMTC) reported Q2 earnings of $0.11 per share, beating the analyst consensus estimate of $0.02 by 450%. However, this is a 87.36% decrease from the same period last year. The company also reported quarterly sales of $238.37 million, beating the estimate of $237.37 million by 0.42%, a 13.92% increase from last year.
September 13, 2023 | 8:17 pm
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NEUTRAL IMPACT
Semtech's Q2 earnings and sales beat estimates, but earnings decreased significantly YoY. This mixed result could lead to uncertain market reactions.
Semtech's Q2 results exceeded estimates, which is generally positive for the stock. However, the significant YoY decrease in earnings could be a concern for investors, potentially leading to mixed market reactions.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100