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Semtech Rallies 10%+ Despite Missing Estimates for Q4 Sales and Adjusted EPS

Benzinga ·  Mar 28 16:24

$Semtech (SMTC.US)$ rallied more than 10% after hours Thursday even though the tech firm missed analysts' estimates for Q4 sales and adjusted EPS.

SMTC gained 13.5% to trade at $31.21 shortly before 4:30 p.m. ET even though it reported quarterly losses of $(0.06) per share, which missed the analyst consensus estimate of $(0.03) by 100%.

The company also reported quarterly sales of $192.95 million, which missed analysts' consensus forecast of $196.46 million by 1.8%. Still, sales rose 15.2% percent from the $167.51 million that Semtech recorded in the same period last year.

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