Semtech Corp. shares rose in the extended session Wednesday after the analog semiconductor maker’s results and earnings outlook exceeded Wall Street estimates.
shares rose as much as 5% after hours, following a 5.4% rise in the regular session to close at $66.66.
The company reported fourth-quarter net income of $34.8 million, or 53 cents a share, compared with $34.4 million, or 53 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 70 cents a share, compared with 51 cents a share in the year-ago period.
Revenue declined to $190.6 million from $194.9 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast 69 cents a share on revenue of $189.3 million.
Semtech forecast earnings of 72 cents to 80 cents a share on revenue of $195 million to $205 million for the first quarter, while analysts had estimated 70 cents a share on revenue of $211.3 million.