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Semtech: Fiscal Q1 Earnings Snapshot

June 1, 2022 GMT

CAMARILLO, Calif. (AP) _ Semtech Corp. (SMTC) on Wednesday reported fiscal first-quarter earnings of $38 million.

On a per-share basis, the Camarillo, California-based company said it had profit of 59 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 80 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The chipmaker posted revenue of $202.1 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $199.8 million.

For the current quarter ending in August, Semtech expects its per-share earnings to range from 80 cents to 90 cents.

The company said it expects revenue in the range of $203 million to $213 million for the fiscal second quarter.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMTC at https://www.zacks.com/ap/SMTC