Investing.com - Semtech reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Semtech announced earnings per share of $0.65 on revenue of $177.6M. Analysts polled by Investing.com anticipated EPS of $0.63 on revenue of $179.68M.
Semtech shares are down 65% from the beginning of the year and are trading at $30.74 , down-from-52-week-high.
Semtech follows other major Information Technology sector earnings this month
Semtech's report follows an earnings missed by NVIDIA on Wednesday, November 16, 2022, who reported EPS of $0.58 on revenue of $5.93B, compared to forecasts EPS of $0.71 on revenue of $5.8B.
Cisco had beat expectations on Wednesday, November 16, 2022 with first quarter EPS of $0.86 on revenue of $13.6B, compared to forecast for EPS of $0.84 on revenue of $13.29B.
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