Semtech Corp - SMTC STOCK NEWS

Semtech (Nasdaq: SMTC) has announced an expansion of its distribution footprint in Canada through a partnership with GetWireless, a leading value-added distributor of cellular IoT solutions. This move allows GetWireless to offer Semtech's IoT connectivity, modules, and router solutions in the Canadian market. The collaboration builds on a 20-year partnership between the two companies in the US.

Brian Taney, CEO of GetWireless, highlighted the opportunity to grow with Semtech (formerly Sierra Wireless) and bring their IoT portfolio to Canadian carriers and resellers. Hieu Duong, head of global channel sales at Semtech, emphasized the company's track record in delivering rugged, reliable, and secure solutions for mission-critical applications. This expansion is expected to drive data-driven transformation with cutting-edge and secure technology solutions in the Canadian IoT market.

Semtech (Nasdaq: SMTC) announced that Weiliang Deng, data center product marketing director, will present at the 22nd Infostone Optical Communication Market and Technology Conference (IFOC) in Shenzhen, China from Sept. 9-10, 2024. The presentation, scheduled for Sept. 9 at 9:55 am local time, will focus on addressing power consumption challenges in data centers as they move to higher bandwidths of 800G and 1.6T, driven by AI and ML demands.

Deng will discuss the benefits of ultra-low latency, low power analog multimode linear pluggable optics (LPO) and active copper cable (ACC) technologies. These advanced analog solutions aim to help data center architects balance capacity growth and power constraints. The conference will cover topics including AI computing power, copper and optical interconnects, and 800G/1.6T/3.2T advancements in the optical communication industry.

Semtech (Nasdaq: SMTC), a leading provider of high-performance semiconductor, IoT systems, and cloud connectivity services, has announced its participation in three upcoming investor conferences in September 2024. Hong Hou, president and CEO, and Mark Lin, executive VP and CFO, will attend:

• The Benchmark Company Tech, Media & Telecom Conference in New York City on Sep. 4
• Piper Sandler Growth Frontiers Conference in Nashville on Sep. 10
• B. Riley Securities' 7th Annual Consumer & TMT Conference in New York City on Sep. 12

These conferences provide Semtech an opportunity to showcase its technology solutions for infrastructure, industrial, and consumer markets, emphasizing its commitment to enabling a smarter and more connected planet.

Semtech (Nasdaq: SMTC) reported its Q2 FY2025 results, showing positive momentum. Net sales reached $215.4 million, up 4% sequentially. GAAP gross margin improved to 49.0%, while non-GAAP gross margin rose to 50.4%. The company's GAAP operating margin increased to 3.6%, and non-GAAP operating margin reached 14.2%. Despite a GAAP diluted loss per share of $2.61, Semtech achieved non-GAAP diluted earnings per share of $0.11. The adjusted EBITDA margin improved to 18.8%.

Looking ahead, Semtech provided a positive outlook for Q3 FY2025, forecasting net sales of $233.0 million (±$5.0 million) and non-GAAP diluted earnings per share of $0.23 (±$0.03). The company expects further improvements in gross margin, operating margin, and adjusted EBITDA margin.

Semtech (Nasdaq: SMTC), a high-performance semiconductor and IoT solutions provider, has announced its plan to release second quarter fiscal year 2025 financial results on August 27, 2024, after market close. The company will host a conference call at 2 p.m. PT (5 p.m. ET) on the same day to discuss the results and current business activities.

Investors can participate in the call by dialing 877-407-0312 (toll-free) or 201-389-0899 (toll/international) with confirmation #13746449. A live webcast will also be available under the Investor Events section of Semtech's website. A replay and transcript of the webcast will be provided after the call concludes.

Semtech (Nasdaq: SMTC) has closed its previously announced private exchange transactions involving its 4.00% Convertible Senior Notes due 2028. Approximately $188 million in aggregate principal amount of the 2028 Notes and accrued interest were exchanged for 10,378,431 shares of the company's common stock. The newly issued shares are not registered under the Securities Act of 1933 and have certain restrictions on their sale and transfer. Semtech, a high-performance semiconductor, IoT systems, and cloud connectivity service provider, emphasizes that this announcement does not constitute an offer to sell or a solicitation to buy securities.

Semtech (Nasdaq: SMTC) has announced private exchange agreements to repurchase $183 million of its 4.00% Convertible Senior Notes due 2028. The repurchase will be executed by issuing shares of the company's common stock over an averaging period beginning July 12, 2024. The transactions are anticipated to close around July 24, 2024, pending customary closing conditions.

These shares will not be registered under the Securities Act of 1933 or other relevant securities laws, limiting their offer and sale in the United States absent proper registration or exemptions. This release does not constitute a sales offer or solicitation to buy any securities in any jurisdiction where such activities would be unlawful.

Semtech (Nasdaq: SMTC) has appointed Dr. Hong Q. Hou as its new President and CEO, effective June 6, 2024. Dr. Hou, a current board member, replaces Paul H. Pickle, whose departure was due to differences with the board, not related to Semtech's operational or financial performance. The company has stabilized its business by reducing operating expenses and strengthening its financial foundation. Dr. Hou aims to leverage Semtech's innovative technologies in the AI and IoT sectors. Additionally, Semtech has reaffirmed its second-quarter fiscal year 2025 guidance provided on June 5, 2024.

Semtech (SMTC) reported its first quarter fiscal year 2025 results, ending April 28, 2024. The company achieved net sales of $206.1 million, surpassing the high-end of its guidance range. GAAP gross margin was 48.3%, and non-GAAP gross margin was 49.8%, both above the midpoint of guidance.

GAAP operating expenses were $96.4 million, a 16% decrease YoY, while non-GAAP operating expenses were $77.4 million, down 17% YoY. The company recorded a GAAP net loss of $23.2 million but reported a non-GAAP net income of $4.1 million.

GAAP diluted loss per share was $0.36, while non-GAAP diluted EPS was $0.06, exceeding the high-end of guidance. Adjusted EBITDA was $33.1 million, also surpassing the high-end of guidance. For Q2 FY 2025, Semtech forecasts net sales of $212 million, non-GAAP gross margin of 50%, operating expenses of $77.5 million, and diluted EPS of $0.09.