Semtech Lowers Q4 Guidance

Semiconductor manufacturer Semtech Corp. lowered its fourth guidance 5 percent to 12.5 percent due to cuts in demand for its products. The Camarillo-based company initially expected revenues in the range of $64 million to $72 million for the quarter ending Jan. 25. The company updated those amounts between $61 million to $63 million. Earnings per share are expected to be between $0.13 and $0.15. The original guidance was between $0.15 to $0.20 cents. Semtech will release its fourth quarter earnings report on March 4. For the third quarter ending Oct. 26, Semtech reported a net income of $11.5 million, or $0.19 per diluted share, on revenues of $79.7 million.