Semtech (SMTC) delivered earnings and revenue surprises of 8.33% and 1.81%, respectively, for the quarter ended October 2024. Do the numbers hold clues to what lies ahead for the stock?
Semiconductor company Semtech (NASDAQ:SMTC) beat Wall Street’s revenue expectations in Q3 CY2024, with sales up 17.9% year on year to $236.8 million. On top of that, next quarter’s revenue guidance ($250 million at the midpoint) was surprisingly good and 3.3% above what analysts were expecting. Its non-GAAP profit of $0.26 per share was 11.7% above analysts’ consensus estimates.