real-time news and commentary for investors
Wednesday, Aug 21
Semtech plunges AH on weak guidance
- Semtech shares (SMTC -0.7%) are down 9.5% AH after the company issues Q3 guidance below consensus expectations.
- Q3 revenue is expected to be $135M-$145M (consensus of $169.4M). EPS is expected to be $0.31-$0.37 (consensus of $0.54). (PR)
- Semtech increased its buyback authorization by $50M to $92.5M.
- Gross margin for Q2 was 61%, up from 49.5% in Q2 FY 2013 and 59.9% in Q1 of FY 2014.
- Yesterday, peer Analog Devices issued guidance for the upcoming quarter that was somewhat light.
- Conference call scheduled for 5pm ET