SEMTECH CORPORATION beats earnings and revenue estimates in Q2

Trending News 🌥️

SEMTECH CORPORATION($NASDAQ:SMTC) announced that their Q2 earnings and revenue beat analyst estimates. Their non-GAAP EPS of $0.87 beat by $0.02 and revenue of $209.25M beat by $0.96M. This news caused SEMTECH CORPORATION stock to rise in after-hours trading. Many investors are wondering if this strong performance will continue into the future. Only time will tell, but SEMTECH CORPORATION is off to a good start.

Share Price

The company’s strong performance was driven by higher demand for its products, particularly in the automotive and industrial markets. SEMTECH CORPORATION is a leading provider of analog and mixed-signal semiconductor solutions, and its products are used in a wide range of applications including automotive, communications, computing, consumer, and industrial.

VI Analysis

SEMTECH CORPORATION’s fundamentals reflect its long term potential. The company is strong in growth and profitability, and medium in asset size. However, it is weak in dividend. SEMTECH CORPORATION is classified as ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. High growth companies are deemed more risky as they attempt to grow faster. SEMTECH CORPORATION has a high health score of 8/10 with regard to its cashflows and debt, is capable to sustain future operations in times of crisis.

For more details please visit Star Chart.

Summary

“We are pleased to report another strong quarter, with double-digit revenue growth, led by continued strength in our Wireless and Industrial businesses,” said Mohan Maheswaran, President and CEO of SEMTECH. “We are raising our guidance for the year as we continue to execute well against our growth strategy,” said Maheswaran.