Semtech Q2 sales, adjusted EPS beat estimates on strong bookings
SMTC•Outlook for fiscal Q3
- Semtech expects Q3 net sales of $410.0 mln +/- $5.0 mln
- Company sees Q3 adjusted diluted EPS of $1.05 +/- $0.03
- Semtech projects Q3 adjusted gross margin of 58.3% +/- 100 bps
Drivers behind the quarter
- Record sales - Co attributed record net sales to strong execution across key focus areas
- Margin expansion - Co cited expanding gross and operating margins as a driver of earnings growth
- Accelerating bookings - Management said accelerating bookings and record backlog point to sustained growth
Q2 results beat expectations
- US semiconductor maker's fiscal Q2 net sales rose 33% yr/yr, beating analyst expectations
- Adjusted EPS for fiscal Q2 beat analyst expectations
- Company cites margin expansion and strong execution as drivers of results
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Sales | Beat | $341.90 mln | $328.64 mln (13 Analysts) |
