CAMARILLO, Calif. - Semtech (NASDAQ:SMTC) Corporation (NASDAQ:SMTC (NASDAQ:SMTX)), a leading semiconductor, IoT systems, and cloud connectivity service provider, reported its fourth quarter financial results, exceeding analysts' revenue expectations. The company posted a fourth-quarter adjusted loss per share of -$0.06, which was slightly below the analyst estimate of -$0.04. However, Semtech's revenue for the quarter was $192.9 million, surpassing the consensus estimate of $190.72 million and indicating a positive market response with the stock rising 7.31%.
The company's president and CEO, Paul H. Pickle, commented on the growth trends, particularly in the infrastructure end market, and highlighted the company's position to benefit from these trends despite constraints in the hardware business. Semtech's executive vice president and CFO, Mark Lin, also noted improvements in working capital which contributed to positive operating and free cash flows for the quarter.
Looking ahead to the first quarter of fiscal year 2025, Semtech anticipates an adjusted EPS of $0.00, which is just below the consensus estimate of $0.01. The company's revenue guidance for the first quarter stands at $200 million, which is ahead of the consensus estimate of $195.3 million. This guidance reflects the company's expectations for continued growth and stability in the semiconductor business.
Semtech's fourth-quarter performance, particularly the revenue beat, has been a key driver of the positive investor sentiment, as reflected in the stock's significant upward movement. The company's strategic positioning and operational efficiencies have contributed to this optimistic outlook as it transitions into the new fiscal year.
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