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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Semtech (NASDAQ: SMTC ) have popped today by as much as 12% after the company reported earnings.
So what: Revenue in the fourth quarter was $150.6 million, an increase of 45% from a year ago, and squeezing past the Street forecast of $149.1 million in sales. Non-GAAP earnings per share was $0.49, a healthy beat relative to the $0.43 per share profit that analysts were modeling for.
Now what: The semiconductor supplier also provided strong outlook for the first quarter, with sales expected to be in the range of $154 million to $162 million. Adjusted gross margin should be right around 61%, and adjusted earnings per share should be $0.43 to $0.49. CEO Mohan Maheswaran said the past year was pivotal for the company, because it integrated its largest acquisition in history and generated record revenue.
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