Northland on Semtech Corp. (SMTC): 'We would be aggressive buyers on weakness'

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Go back to Northland on Semtech Corp. (SMTC): 'We would be aggressive buyers on weakness'

Semtech Announces Second Quarter of Fiscal Year 2024 Results

September 13, 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 second quarter of fiscal year 2024, which ended July 30, 2023.

Highlights for the Second Quarter of Fiscal Year 2024

Net sales of $238.4 million, an increase of 0.8% sequentially and 13.9% year-over-year GAAP gross margin of 42.3% and Non-GAAP gross margin of 49.6% GAAP diluted loss per share of $5.97 and Non-GAAP diluted earnings per share of $0.11 Cloud data center net sales grew 114% sequentially High-end consumer net sales... More