From Financial Modeling Prep: 2024-11-26 08:30:00

Semtech (NASDAQ:SMTC) shares surged over 15% pre-market following impressive third-quarter earnings. Adjusted earnings were $0.26 per share, beating estimates of $0.23. Revenue hit $236.8 million, surpassing forecasts of $232.89 million, with data center sales up 58% to $43.1 million. Gross margins improved to 52.4%.

For the fourth quarter, Semtech expects adjusted earnings per share between $0.29 and $0.35, higher than the consensus of $0.27. Revenue is forecasted to be between $245 million and $255 million, exceeding estimates of $242.2 million. The company is optimistic about its performance in the upcoming quarter.



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