Semtech Shares Plunge 21% Following Q4 Earnings Announcement 
<p><a href='https://financialmodelingprep.com/financial-summary/SMTC'>Semtech (NASDAQ:SMTC)</a> shares dropped more than 21% today after the company reported its Q4 results, with EPS of $0.47 coming in worse than the Street estimate of $0.48. Revenue was $167.5 million, compared to the Street estimate of $150.09 million.</p>
<p>The company expects Q1/24 EPS to be in the range of ($0.11)-($0.04), worse than the Street estimate of $0.43. Revenue is seen at $230-$240 million, compared to the Street estimate of $148.8 million.</p>
<p>It’s important to note, the revenue guidance is split into $135 million and $100 million for SWIR and SMTC, respectively. Standalone Q1 SMTC revenue missed by 32%.</p>
<p>Q4 gross margin of 62.3% dropped to 48.5% in Q1 as SWIR’s commodity module business blends into the mix. Gross margin is expected to trend up 100-150bps through the year on synergies.</p>

NASDAQ:SMTC