Semtech +8.3% on positive Q3 report, Q4 outlook

|About: Semtech Corporation (SMTC)|By:, SA News Editor

Results – revenue $140.9M (+21.7% Y/Y, $2.33M above estimates), EPS $0.37 ($0.09 above estimates), net sales $140.9M, gross margin 60.4%, R&D expenses $23M, SG&A expenses $28.9M, operating margin 23.6%, net income $24.3M

Q4 projections – revenue $134M-$142M (consensus $134.3M), EPS $0.33-$0.37 (consensus $0.33), gross margin 60%-60.5%, SG&A expense $27M-$28M, R&D expense $24M-$25M, interest and other expense $2.2M, tax rate 19%-21%

Semtech (NASDAQ:SMTC) president and CEO: "The strength we are experiencing from exciting growth markets that include the Internet of Things, hyper-scale datacenters and mobile  devices is expected to continue and contribute to a better than seasonal outlook for our fourth fiscal quarter.  Our focus on divesting non-core assets while investing in new product platforms and maintaining Opex discipline should enable the Company to continue to leverage the growth we expect to see over the next several years."

Prior quarters overview

Earnings call transcript

10-Q