Semtech Corp (NASDAQ:SMTC) reported financial results for the fourth quarter after the market close on Monday. Here’s a rundown of the report.

Semtech Beats Estimates In Q4

Semtech reported fourth-quarter revenue of $274.4 million, beating analyst estimates of $273.21 million, according to Benzinga Pro. The semiconductor company reported fourth-quarter adjusted earnings of 44 cents per share, beating estimates of 43 cents per share.

Total revenue was up 9% year-over-year and 3% sequentially. Semtech generated $61.5 million of operating cash flow and $59.1 million of free cash flow during the quarter. The company ended the period with $195.2 million in total cash and cash equivalents.

“We believe we are uniquely positioned as data center build out expands, with a broad set of solutions purpose-built for the 800G, 1.6T, and 3.2T era, and our continued investment in research and development positions us to remain at the forefront of next-generation optical and copper interconnect technologies,” said Hong Hou, president and CEO of Semtech.

What’s Next For Semtech?

Semtech expects first-quarter revenue to be in the range of $278 million to $288 million versus estimates of $272.56 million. The company anticipates first-quarter adjusted earnings of 42 cents to 48 cents per share versus estimates of 43 cents per share.

“With a significantly stronger financial foundation, we have the flexibility to strategically pursue the investments that we believe accelerate the next chapter of Semtech’s growth,” Hou said.

Semtech executives are currently discussing the quarter on an earnings call that started at 4:30 p.m. ET.

SMTC Shares Slip After The Bell

SMTC Price Action: Semtech shares were down 1.31% in after-hours, trading at $87.83 at the time of publication on Monday, per Benzinga Pro.

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