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Friday, Jan 27, 2023
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Sales Down in Q4 at Semtech

A decrease in orders for its semiconductors contributed to a 58 percent drop in net income for Semtech Corp. in the fourth quarter. The Camarillo-based company reported net income of $6.3 million, or $0.10 per diluted share, on revenues of $62.7 million for the quarter ending Jan. 25. For the same period in the previous year Semtech had net income of was $14.9 million, or 23 cents per diluted share, on revenues of $78.6 million. For the full year, Semtech reported a net income of $37.5 million, or $0.61 per diluted share, on revenues of $294.8 million. That is a 21 percent drop from the net income of $47.8 million, or $0.71 per diluted share, on revenues of $284.8 million. Shipments exceeded orders during the fourth quarter as orders were down for semiconductors used in high-end consumer, computing, communications and industrial equipment. Shares in Semtech closed down at $11.26. Mark R. Madler

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