Semtech Corp. (Nasdaq: SMTC), a Camarillo-based supplier of analog and mixed-signal semiconductors and algorithms, on Wednesday reported financial results that beat expectations.
Third quarter earnings of $34.4 million equated to 53 cents a share. Adjusted for one-time gains and costs, the earnings came to 74 cents a share. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 72 cents.
The chipmaker posted revenue of $195 million in the period, which also beat Street forecasts of nearly $193 million.
For the current quarter ending in January, Semtech expects its per-share earnings to range from 65 cents to 73 cents.
Its stock closed up $1.02, or more than 1 percent, to $86.69 on the Nasdaq on Wednesday, a day when that exchange was down 1.8 percent.