Loading...
•
Apr 30, 2023
Semtech Q1 2024 Earnings Report
Semtech's Q1 2024 financial results were announced, revealing a mix of growth and challenges.
Key Takeaways
Semtech reported net sales of $236.5 million, a 17.0% year-over-year increase, and a GAAP diluted loss per share of $0.46, while non-GAAP diluted earnings per share was $0.02. The company is taking steps to improve operational efficiency amidst a challenging macroeconomic environment.
Net sales reached $236.5 million, showing a 17.0% increase year-over-year.
GAAP gross margin was 43.5%, while non-GAAP gross margin was 48.5%.
GAAP diluted loss per share was $0.46, and non-GAAP diluted earnings per share was $0.02.
Paul H. Pickle was appointed as the next Semtech president and chief executive officer.
Forward Guidance
Semtech anticipates net sales to be in the range of $233.0 million to $243.0 million for the second fiscal quarter of 2024. The non-GAAP diluted (loss) earnings per share is expected to be in the range of $(0.02) to $0.06.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...