Semtech (Nasdaq: SMTC) is expected to report Q1 earnings on May 22. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Semtech's revenues will grow 36.0% and EPS will expand 70.4%.

The average estimate for revenue is $158.6 million. On the bottom line, the average EPS estimate is $0.46.

Revenue details
Last quarter, Semtech notched revenue of $150.6 million. GAAP reported sales were 45% higher than the prior-year quarter's $104.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.49. GAAP EPS of $0.19 for Q4 were 5.6% higher than the prior-year quarter's $0.18 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 61.3%, 390 basis points better than the prior-year quarter. Operating margin was 4.8%, 840 basis points worse than the prior-year quarter. Net margin was 8.7%, 320 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $677.7 million. The average EPS estimate is $2.19.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 91 members out of 103 rating the stock outperform, and 12 members rating it underperform. Among 33 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 31 give Semtech a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Semtech is buy, with an average price target of $32.50.

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