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Semtech Corp. (SMTC) Set A New High Following Q4 Earnings Beat

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Semtech Corp. (SMTC: Quote) reported fourth quarter non-GAAP EPS of $0.49 after the close Wednesday, up from $0.32 in the prior year period. The consensus estimate was for EPS of $0.43. First quarter non-GAAP EPS is expected to be between $0.43 and $0.49. The consensus estimate is for EPS of $0.45.

Semtech gapped open sharply higher Thursday, but traded in a narrow range for the majority of the session. The stock finished with a gain of 2.31 at $33.03 on above average volume. Semtech rose past the upper end of a one-month range and set a new high for the year.

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by RTT Staff Writer

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