Semtech Corp (SMTC) Tops Q3 EPS by 6c, Offers Q4 Guidance, Raises Buyback Plan by $50M

Semtech Corp (NASDAQ: SMTC) reported Q3 EPS of $0.52, $0.06 better than the analyst estimate of $0.46. Revenue for the quarter came in at $124 million versus the consensus estimate of $123.03 million.

Semtech Corp sees Q4 2011 EPS of $0.27-$0.33, versus the consensus of $0.43. Semtech Corp sees Q4 2011 revenue of $102-$108 million, versus the consensus of $117.71 million.

The company also announced that its Board of Directors approved increasing the existing stock repurchase authorization by $50 million. Prior to the increase, the company had $20 million remaining in the authorization implemented in March 2008 and amended in August 2011.

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