Semtech Earnings: Here’s Why the Stock is Up Now

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Semtech Corp. (NASDAQ:SMTC) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.66%.

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Semtech Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 70.37% to $0.46 in the quarter versus EPS of $0.27 in the year-earlier quarter.

Revenue: Rose 39.23% to $162.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Semtech Corp. reported adjusted EPS income of $0.46 per share. By that measure, the company met the mean analyst estimate of $0.46. It beat the average revenue estimate of $158.73 million.

Quoting Management: Mohan Maheswaran, Semtech’s President and Chief Executive Officer, stated, “Q1 of Fiscal year 2014 was another record quarter for Semtech. In addition to record revenues and record gross margin dollars, we achieved a record number of design wins and a positive book-to-bill. We continue to believe our market-leading, diversified analog platforms and balanced end market exposure will enable us to deliver sustainable growth and profitability for our shareholders.”

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