On August 26, Semtech rose 8.21% in regular trading, trading at $136.14/share, with turnover of $235 million. The rally was driven by the company's fiscal Q2 earnings report released after market close on August 25, which significantly exceeded market expectations.
Specifically, Semtech posted non-GAAP EPS of $0.71, surpassing the consensus estimate of $0.57 by approximately 24.6% and representing a 73.2% year-over-year increase. Revenue came in at $341.9 million, topping the expected $328.6 million, while the company also issued strong Q3 guidance. Management had previously indicated that its data center business grew 85% year-over-year in Q2. Additionally, the mid-August mass production launch of LoRa Plus transceivers LR2022 and LR2012, together with the existing LR2021, completes a full three-chip matrix covering Sub-GHz to satellite-direct connectivity, providing dual support from both fundamentals and the product pipeline.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)