Over the three months to April, the semiconductor company earned 32 cents a share, 2 cents higher than analysts surveyed by Thomson Reuters expected.
Revenue of $132.9 million slipped 18.2% year over year, but beat estimates of $130.27 million.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates SEMTECH CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation: "We rate SEMTECH CORP (SMTC) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
- You can view the full analysis from the report here: SMTC Ratings Report