SEMTECH CORPORATION Reports Earnings Results for FY2024 Q1 as of April 30 2023

🌥️Earnings Overview

SEMTECH CORPORATION ($NASDAQ:SMTC) reported its earnings results for the first quarter of FY2024, as of April 30, 2023, on June 7, 2023. The company saw total revenue of USD 236.5 million, a 17.0% increase from the same quarter the year prior. Reported net income for the quarter was USD -29.4 million, a decrease from the 38.0 million reported in the same quarter of the previous year.

Share Price

SEMTECH CORPORATION reported earnings results for its fiscal year 2024 first quarter, ended April 30, 2023. On Wednesday, SEMTECH CORPORATION stock opened at $22.3 and closed at $22.4, up 1.5% from last closing price of $22.1. This strong financial performance is driven by SEMTECH CORPORATION’s strategic initiatives, such as expanding into new markets and increasing product offerings. These initiatives have enabled SEMTECH CORPORATION to improve the customer experience and maximize value for shareholders.

Overall, the Q1 numbers put SEMTECH CORPORATION in a strong position going forward. The company is confident about its future prospects and is well-positioned to capitalize on opportunities in the market. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Semtech Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Semtech Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Semtech Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Semtech Corporation are shown below. More…

Analysis

At GoodWhale, we have conducted an analysis of SEMTECH CORPORATION‘s fundamentals. Based on our Star Chart, SEMTECH CORPORATION appears strong in asset and profitability, while weak in dividend and growth. We classify SEMTECH CORPORATION as a ‘rhino’, which indicates a company that has achieved moderate revenue or earnings growth. This type of company may be attractive to investors who are looking for a company with potential for steady but moderate growth, and a potential for good returns. Furthermore, SEMTECH CORPORATION has a high health score of 8/10, indicating that it is capable of sustaining future operations even in times of crisis due to its healthy cashflows and debt. More…

Peers

Its products are found in a wide range of applications including communications, computing, consumer, industrial, automotive, and Internet of Things. Semtech’s competitors include Diodes Inc, Renesas Electronics Corp, and Vanguard International Semiconductor Corp.

– Diodes Inc ($NASDAQ:DIOD)

Diodes Incorporated is a leading global manufacturer and supplier of high-quality application specific standard products within the broad discrete, logic and analog semiconductor markets. Diodes serves the consumer electronics, computing, communications, industrial, automotive and medical market segments.

– Renesas Electronics Corp ($TSE:6723)

Renesas Electronics Corp is a Japanese semiconductor company. As of 2022, its market cap is 2.24T and its ROE is 14.83%. The company produces a wide range of semiconductor products, including microcontrollers, SoCs, and ASSPs. It also offers a variety of services, such as design, development, and manufacturing.

– Vanguard International Semiconductor Corp ($TPEX:5347)

Vanguard International Semiconductor Corp is a Taiwanese company that manufactures and sells semiconductors. It has a market cap of 106.7B as of 2022 and a Return on Equity of 32.12%. The company’s products include DRAMs, SRAMs, flash memory, and CMOS image sensors.

Summary

SEMTECH CORPORATION‘s performance in the first quarter of FY2024 saw a 17.0% increase in total revenue to USD 236.5 million compared to the same period the previous year. However, net income was reported at USD -29.4 million, down from 38.0 million in the same quarter of the previous year. Investing analysis of SEMTECH CORPORATION should take into account these financial figures and consider the overall potential of the company for future success in order to make an informed decision.