Semtech Lifts Q3 Outlook, Guides Adjusted EPS to $1.14
SMTC has more than doubled off its 52-week low of $60.28 on elevated volume (3.1× avg).
Summary
Semtech raised its fiscal Q3 guidance and put adjusted EPS at $1.14, plus or minus 2 cents. The company also introduced a FY30 framework targeting $3.2B in net sales and $12.40-$13.00 in adjusted EPS, per the 8-K filed minutes before this wire. This builds on the record Q2 reported August 25, when revenue of $341.9M rose 33% year-over-year and Q3 revenue guidance of $410M came in 14% above consensus. The raise confirms the demand trend that drove that beat is holding, and the multi-year framework gives the first hard look at management's longer-term margin and revenue ambitions. The stock trades near $149.50 on a $13.5B market cap, so the guidance revision is material to how the market prices the next several quarters.
At the time of this announcement, SMTC was trading at $149.50 on NASDAQ in the Technology sector, with a market capitalization of approximately $13.5B. The 52-week trading range was $60.28 to $201.99. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.