Key Developments: Semtech Corp (SMTC.O)
35.59USD
23 May 2013
$-0.74 (-2.04%)
$36.33
$36.00
$36.00
$31.60
2,561,190
512,889
$37.38
$22.22
Latest Key Developments (Source: Significant Developments)
Semtech Corp Issues Q2 2014 Guidance In Line With Analysts' Estimates
Semtech Corp announced that for the second quarter of 2014, it expects net sales to be in the range of $164.0 million to $172.0 million, GAAP earnings to be in the range of 21 to 29 cents per diluted share and Non-GAAP earnings to be in the range of 50 to 56 cents per diluted share. According to I/B/E/S Estimates, analysts expect the Company to report revenues of $167.2 million and EPS of $0.53 for the second quarter of 2014. Full Article
Semtech Corp Announces $400 Million Credit Agreement
Semtech Corp announced that it has executed a new credit agreement consisting of a senior secured term loan facility in the principal amount of $150 million and a $250 million senior secured revolving credit facility. This new credit agreement replaces the existing $350 million credit facility. Based on current LIBOR rates, the after tax interest rate will be approximately 1.3%, which is approximately half the rate associated with the existing facility. Full Article
Semtech Corp Issues Q1 2014 Guidance; Revenue Guidance Above Analysts' Estimates
Semtech Corp announced that for the first quarter of fiscal 2014, the Company expects net sales to be in the range of $154.0 million to $162.0 million and GAAP earnings are expected to be in the range of $0.17 to 0.24 per diluted share, Non-GAAP earnings are expected to be in the range of $0.43 to $0.49 per diluted share. According to I/B/E/S Estimates, analysts expect the Company to report revenues of $152.21 million and EPS of $0.45 for the first quarter of 2014. Full Article
Semtech Corp Issues Q4 2013 Guidance In Line With Analysts' Estimates
Semtech Corp announced that for fourth quarter of 2013, it expects net sales to be in the range of $146.0 million to $152.0 million. GAAP earnings are expected to be in the range of $0.13 to $0.17 per diluted share and Non-GAAP earnings are expected to be in the range of $0.41 to $0.45 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $151.3 million and EPS of $0.43 for the fourth quarter of 2013. Full Article
Semtech Corp Issues Q3 2013 Guidance
Semtech Corp announced that for the third quarter of 2013, it expects net sales to be in the range of $148.0 million to $154.0 million, GAAP earnings to be in the range of $0.15 to $0.20 per diluted share and Non-GAAP earnings to be in the range of $0.41 to $0.45 per diluted share. Full Article
Semtech Corp. Issues Q2 2013 Guidance
Semtech Corp. announced that for the second quarter of 2013, it expects net sales to be in the range of $146.0 million to $154.0 million, GAAP earnings be in the range of $(0.04) to $0.04 per diluted share and non-GAAP earnings to be in the range of $0.37 to $0.45 per diluted share. Full Article
Semtech Corp.'s Subsidiary Completes Acquisition of Gennum Corp
Semtech Corp. and Gennum Corp announced the completion of Semtech's acquisition of Gennum Corporation. Semtech’s agreement to acquire Gennum was announced previously on January 23, 2012. Through its indirect wholly-owned subsidiary Semtech Canada Inc., Semtech Corporation acquired 100% of the outstanding shares of Gennum Corporation for CDN13.55 per share for a total purchase price of approximately CDN500 million. The acquisition was completed by way of a plan of arrangement under the Business Corporations Act (Ontario) and was financed with a combination of cash from Semtech’s international cash reserves and $350 million of five-year secured term loans with a combined floating interest rate of approximately 4%. Jefferies & Company, Inc. acted as exclusive financial advisor to Semtech on the acquisition of Gennum and as sole arranger of the term loans. Canaccord Genuity Corp. acted as exclusive financial advisor to Gennum. Following the completion of the acquisition, Gennum Corporation has become Semtech Canada Inc. The shares of Gennum are expected to be delisted from the Toronto Stock Exchange by March 26, 2012, and Gennum will cease to be a reporting issuer under applicable Canadian securities laws as soon as practicable. To receive the cash consideration for shares of Gennum, registered shareholders must follow the instructions detailed in Gennum’s information circular dated February 13, 2012. Full Article
Semtech Corp. Issues Q1 2013 Guidance Below Analysts' Estimates
Semtech Corp. announced that for the first quarter of 2013. it expects net sales to be in the range of $102.0-$108.0 million. GAAP earnings are expected to be in the range of $0.17-$0.21 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $113.3 million and GAAP EPS of $0.27 for the first quarter of 2013. Full Article
Semtech Corp. Announces Plans to Acquire Gennum Corporation
Semtech Corp. and Gennum Corporation announced that they have entered into a definitive arrangement agreement (Arrangement Agreement) for Semtech to acquire all of the outstanding shares of Gennum for a total consideration of approximately CAD500 million (approximately USD494 million based on the exchange rate on January 20, 2012 of CAD0.9868 to USD1.00). Semtech expects to finance the acquisition through a combination of cash on hand and new bank financing. The Company has received a financing commitment of up to USD400 million from Jefferies Finance LLC. Under the terms of the Arrangement Agreement, upon closing of the proposed transaction, shareholders of Gennum (Gennum Shareholders) will receive CAD13.55 in cash for each common share of Gennum held. The Arrangement Agreement contains, among other things, a CAD19.35 million termination fee payable by Gennum in certain circumstances. Semtech has also been granted a right to match competing proposals. Full Article
Semtech Corp. Issues Q4 2012 Guidance Below Analysts' Estimates; Expands Stock Repurchase Plan
Semtech Corp. announced that for the fourth quarter of 2012, it expects net sales to be in the range of $102.0-$108.0 million and GAAP earnings are expected to be in the range of $0.18 to $0.24 per diluted share, Non-GAAP earnings are expected to be in the range of $0.27 to $0.33 per diluted share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $116 million and EPS of $0.42 for the fourth quarter of 2012. The Company also announced that its Board of Directors approved increasing the existing stock repurchase authorization by $50 million. Prior to the increase, the company had $20 million remaining in the authorization implemented in March 2008 and amended in August 2011. Full Article
BRIEF-Semtech shares up 10.6 pct after the bell following results
NEW YORK, March 6 - Semtech Corp : * Shares were up 10.6 percent after the bell following the release of its results.
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