Semtech Q2 Adj $0.11 Beats $0.09 Estimate, Sales $215.40M Beat $212.30M Estimate
Portfolio Pulse from Benzinga Newsdesk
Semtech (NASDAQ:SMTC) reported Q2 earnings of $0.11 per share, beating the $0.09 estimate, but down from $0.13 last year. Sales were $215.40M, surpassing the $212.30M estimate, yet down from $238.37M last year.
August 27, 2024 | 8:17 pm
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Semtech's Q2 earnings and sales beat analyst estimates, but both figures are down compared to the same period last year. This mixed result may lead to short-term volatility in the stock price.
Semtech's earnings per share and sales figures exceeded analyst expectations, which is typically positive for stock prices. However, the year-over-year decline in both earnings and sales could offset this positivity, leading to potential short-term volatility as investors digest the mixed results.
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