Semtech slashes Q4 guidance on carrier spending delays

Semtech (SMTC) revises its FQ4 expectations downwards, seeing revenue of $120M-$130M from a previous $132M-$144M (and vs. consensus of $138.7M) and EPS of $0.18-$0.24 from a previous $0.29-$0.37 (and vs. $0.34).

Management cites "ongoing delays in carrier capex spending and a 6-month push-out in the ramp of a new consumer mobile platform."

Semtech will combine its Advanced Communications and Genuum Product Groups into a new Signal Integrity and Timing Product Group to "better leverage natural synergies."

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