Loading...
•
Oct 30, 2022
Semtech Q3 2023 Earnings Report
Reported unaudited financial results, featuring a net sales decrease and record gross margins.
Key Takeaways
Semtech reported a decrease in net sales but achieved record GAAP and non-GAAP gross margins. The company is cooperating with the DOJ on the proposed acquisition of Sierra Wireless and issued convertible senior notes.
Net sales decreased by 15.1% sequentially and 8.9% year-over-year, reaching $177.6 million.
GAAP gross margin reached a record 65.1%, and non-GAAP gross margin also reached a record at 65.5%.
GAAP and non-GAAP diluted earnings per share were $0.36 and $0.65, respectively.
Tri-Edge was selected by a major North American Hyperscale Data Center Provider for a high volume, multi-year program.
Forward Guidance
Semtech anticipates net sales between $145.0 million and $155.0 million for the fourth fiscal quarter of 2023. The outlook considers transaction costs for the proposed Sierra Wireless acquisition and inflationary pressures, but excludes Sierra Wireless's results.
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...