04:59 PM EDT, 06/05/2024 (MT Newswires) -- Semtech ( SMTC ) reported fiscal Q1 non-GAAP diluted earnings late Wednesday of $0.06 per share, up from $0.04 a year ago.

Net sales for the quarter that ended April 28 was $206.1 million, down from $236.5 million a year earlier.

Analysts surveyed by Capital IQ expected $200.1 million.

For fiscal Q2, the firm expects non-GAAP EPS of $0.06 to $0.12. Analysts surveyed by Capital IQ expect earnings of $0.11.

The firm expects net sales for the quarter of $207 million to $217 million. Analysts expect $210.2 million.

Shares of Semtech ( SMTC ) were up about 9% in after-hours activity.

Price: 42.20, Change: +3.52, Percent Change: +9.10