Investing.com - Semtech reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Semtech announced earnings per share of $0.87 on revenue of $209.25M. Analysts polled by Investing.com anticipated EPS of $0.853 on revenue of $208.29M.
Semtech shares are down 48% from the beginning of the year , still down 51.34% from its 52 week high of $94.92 set on Monday, November 22, 2021. They are under-performing the Nasdaq which is down 24.47% year to date.
Semtech follows other major Information Technology sector earnings this month
Semtech's report follows an earnings beat by NVIDIA on Wednesday, August 24, 2022, who reported EPS of $0.51 on revenue of $6.7B, compared to forecasts EPS of $0.4991 on revenue of $6.7B.
Cisco had beat expectations on Wednesday, August 17, 2022 with fourth quarter EPS of $0.83 on revenue of $13.1B, compared to forecast for EPS of $0.8162 on revenue of $12.73B.
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