Semtech (SMTC) Tops Q1 EPS by 10c; Issues Mixed Outlook

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Semtech Announces First Quarter of Fiscal Year 2024 Results

June 7, 2023 4:15 PM EDT

CAMARILLO, Calif.--(BUSINESS WIRE)-- Semtech Corporation (Nasdaq: SMTC), a high-performance semiconductor, IoT systems and cloud connectivity service provider, today reported unaudited financial results for its first quarter of fiscal year 2024, which ended April 30, 2023.

Highlights for the First Quarter of Fiscal Year 2024

Net sales of $236.5 million, an increase of 41.2% sequentially and 17.0% year-over-year GAAP gross margin of 43.5% and Non-GAAP gross margin of 48.5% GAAP diluted loss per share of $0.46 and Non-GAAP diluted earnings per share of... More