Overview
- Semtech reported first-quarter EPS of $0.51 and revenue of $291 million, both above analyst expectations.
- The company issued second-quarter guidance for adjusted EPS of $0.59–$0.63 and revenue of $323 million–$333 million, which exceeded street estimates.
- CEO Hong Hou said the company delivered record quarterly results and expanded design wins in its data-center connectivity and LoRa businesses.
- Investors pushed the stock higher and shares rose about 9.8% after the report, while analysts at Baird and Needham raised price targets to $225 and $200 respectively.
- Analysts and management said the mix of data-center wins and LoRa momentum could prompt a near-term re-rating of the stock and affect revenue pacing for the coming quarters.