Semtech Reports Strong Q1 Revenue, Positive Q2 Guidance, Driven by Edge 1.6T Product Launches
Summary
Semtech reported strong first-quarter fiscal 2027 results with $291 million in revenue, a 16% year-over-year increase, and non-GAAP EPS of $0.51. The company also issued positive second-quarter guidance, projecting sales of $328 million ± $5 million and adjusted EPS of $0.61 ± $0.02. These results are driven by expanding design wins in data center and LoRa businesses, including revenue contributions from new FiberEdge and CopperEdge 1.6T products. This follows yesterday's 8-K and news reports that highlighted the top-line Q1 revenue, adding crucial details on profitability, guidance, and growth drivers.
At the time of this announcement, SMTC was trading at $174.69 on NASDAQ in the Technology sector, with a market capitalization of approximately $15.3B. The 52-week trading range was $34.59 to $168.29. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.