Semtech Stock: Upcoming Report Could Be A Make-Or-Break Moment (NASDAQ:SMTC)


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Semtech Corporation (NASDAQ:SMTC) has staged a turnaround of sorts in the last few months. The stock is still nursing most of the losses stemming from a long decline that began roughly two years ago, but it has recovered some

Q2 FY2024 (guidance)

Q2 FY2023

YoY (midpoint)

Net sales

$233-243M

$209.3M

13.71%

Non-GAAP gross margin

47.5-49.5%

65.2%

1670bps

Non-GAAP EPS

($0.02)-$0.06

$0.87

(97.70%)

(Unit: $1000, except EPS)

(GAAP)

Q1 FY2024

Q4 FY2023

Q1 FY2023

QoQ

YoY

Net sales

236,539

167,512

202,149

41.21%

17.01%

Gross margin

43.5%

59.7%

63.9%

(1620bps)

(2040bps)

Operating margin

(5.0%)

(33.2%)

23.3%

2820bps

(2830bps)

Operating income (loss)

(11,880)

(55,659)

47,052

Net income (attributable to common stockholders)

(29,415)

(51,013)

38,049

EPS

(0.46)

(0.80)

0.59

(Non-GAAP)

Net sales

236,539

167,512

202,149

41.21%

17.01%

Gross margin

48.5%

62.3%

64.8%

(1380bps)

(1630bps)

Net income (attributable to common stockholders)

1,528

30,337

51,821

(94.97%)

(97.05%)

EPS

0.02

0.47

0.80

(95.74%)

(97.50%)



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