Why Semtech Stock Was Flying This Week
It posted second-quarter results that topped analyst estimates.
Overview
IT hardware maker Semtech (NASDAQ: SMTC) has been cruising higher over the past few days, thanks in no small part to an investor-pleasing quarterly earnings report it published on Tuesday. As of mid-evening Thursday, its stock price was up by nearly 15%, according to data compiled by S&P Global Market Intelligence.
Semtech's second quarter of fiscal 2027 featured record net sales of just under $342 million, up a robust 33% year over year. Net income not under generally accepted accounting principles (non-GAAP, or adjusted) surged higher, rising 89% to $69.5 million, or $0.71 per share.
Details
Source
Originally published at www.fool.com.
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