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BUSINESS
December 24, 1985
Semtech, a financially ailing semiconductor maker, laid off 37 employees last week as part of a cost-cutting campaign, the company said Monday. The cutbacks affect 25 production workers and 12 from other departments, the Newbury Park-based company said in a prepared statement. Semtech now has 227 employees. Semtech released earnings figures this month for its third quarter ended Nov. 2 showing sharply reduced losses on 10% higher sales.
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BUSINESS
August 30, 2006 | From Bloomberg News
Semtech Corp., a maker of semiconductors for cellphones, said that second-quarter sales rose 12% to $64.9 million and that Nasdaq granted its request for more time to restate its first-quarter results. Semtech will not meet the deadline to file the form 10-Q for the second quarter ended July 30, causing another instance of noncompliance with Nasdaq, the Camarillo-based company said Tuesday.
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BUSINESS
June 6, 1989
Semtech, a Newbury Park maker of semiconductors, said its fiscal first-quarter profit tumbled 61% from a year earlier on a 7% decline in sales. In the three months ended April 30, Semtech's net income dropped to $247,000 from $632,000 a year earlier, while its sales fell to $4.63 million from $4.99 million. Semtech's results have dipped in recent quarters in part because of flat demand for semiconductors generally. But the manufacturer noted that its latest results showed a slight improvement from the fourth quarter of its fiscal year ended Jan. 31, when it earned $220,000.
BUSINESS
August 26, 2006 | From Bloomberg News
Semtech Corp., a Camarillo maker of semiconductors for cellphones, said Chairman John D. Poe had resigned and would take a leave of absence from the board until an investigation into stock-option practices was finished. Rockell Hankin, 59, has replaced Poe as chairman, the company said. "Mr. Poe informed the company that he was taking these actions in order to avoid even the appearance of a conflict of interest," Semtech said. Poe was Semtech's chief executive from October 1985 to October 2003.
CALIFORNIA | LOCAL
March 9, 1999
Semtech Corp. in Newbury Park reported record sales of $30.9 million for the fourth quarter of fiscal 1999, an increase of 8% over revenue of $28.5 million for both the third quarter of fiscal 1999 and the fourth quarter of fiscal 1998. Net sales for the year were $114.5 million, compared with $102.8 million for fiscal 1998. Net income for the three months ended Jan. 31 was $4.1 million or 25 cents per diluted share, an increase of 20% above third quarter earnings of $3.4 million, or 22 cents per diluted share.
BUSINESS
January 30, 2002 | Bloomberg News
Semtech Corp., which makes semiconductors for computers and communications equipment, will shut its last wafer plant as part of a plan to get all its silicon wafers from outside sources by the end of the year. Semtech said the Corpus Christi, Texas, facility would be closed within the next nine months but didn't indicate how many jobs would be affected. Semtech shares fell 41 cents to $33.74 on Nasdaq.
BUSINESS
October 9, 1990
Semtech Corp., a Newbury Park manufacturer of electronic components, said it completed the purchase of Lambda Semiconductors, which has facilities in Corpus Christi, Tex., and Mexico. The purchase price was not disclosed. Semtech said the newly acquired division makes voltage regulators, transistors, rectifiers and other components, and had sales of about $7 million in its fiscal year that ended June 2.
BUSINESS
March 18, 1986
Semtech, a Newbury Park semiconductor company, reported a profit of $21,000, or 1 cent a share, in its fourth quarter ended Feb. 1 after losing $1.3 million, or 73 cents a share, in the same quarter last year. The company cited cost cutting and reduced inventories for the improvement. Sales were up 39% to $3.4 million. Semtech also announced sharply improved yearlong results. Losses were slashed to $866,000, or 47 cents a share, from $4.0 million, or $2.17 a share, in the prior year.
CALIFORNIA | LOCAL
July 19, 2000 | TRACI ISAACS
Semtech Corp., which makes technology equipment for the communications, computer and video industries, will move its headquarters from Newbury Park to Camarillo. The company will move to an 86,000-square-foot building on Flynn Road, which is expected to open next year, said company spokeswoman Lori Posey. Semtech's new offices could add up to 400 jobs in Camarillo, already a burgeoning center for high-tech employment, said Jim Jevens, Camarillo's economic developer.
BUSINESS
October 10, 1995
Semtech Corp., the Newbury Park-based semiconductor concern, completed its purchase of ECI Semiconductor of Santa Clara for 775,000 new shares of common stock. Recently, Semtech's stock has traded in the range of $26 per share, making the ECI deal worth about $20 million. With 110 employees, ECI manufactures various semiconductor devices. The firm posted revenues of $7.7 million in the past six months, compared to $19.9 million for Semtech.
BUSINESS
June 15, 2006 | From Bloomberg News
Semtech Corp., which makes semiconductors for cellphones, received a grand jury subpoena for documents tied to its option grants. The Camarillo-based company also said two shareholder lawsuits were filed that allege improper awards. In other developments tied to the options controversy: * Monster Worldwide Inc., which runs the Monster.com online job site, said the SEC had told it to preserve documents. * Michaels Stores Inc.
BUSINESS
May 28, 2003 | From Bloomberg News
Semtech Corp., a maker of semiconductors for mobile devices and computers, said fiscal first-quarter profit fell 17% as prices for personal-computer chips dropped and demand faltered for some of its products. Net income declined to $8.27 million, or 11 cents a share, for the period ended April 27, from $10 million, or 13 cents, a year earlier. Sales decreased nearly 11% to $44 million from $49.2 million, the company said.
BUSINESS
November 27, 2002 | From Bloomberg News
Semtech Corp. shares fell as much as 17% after the semiconductor maker said sales this quarter will fall and profit will miss analysts' forecasts as chip demand slips. Camarillo-based Semtech fell $3.56 to $14.55 on the Nasdaq. Demand for chips has fallen in the last two years at Semtech, Intel Corp., Texas Instruments Inc. and rivals as companies reduce spending. Shipments to desktop-computer customers fell in the quarter ended Oct.
BUSINESS
August 28, 2002 | Bloomberg News
Semtech Corp., a maker of semiconductors for major technology companies, said a customer claims it has suffered $42 million in damages because faulty chips caused some products to fail, and the damages could reach more than $115 million. Camarillo-based Semtech said its tests indicate the chips do not malfunction and it is in talks aimed at resolving the dispute. A company spokesman couldn't be reached for comment.
BUSINESS
January 30, 2002 | Bloomberg News
Semtech Corp., which makes semiconductors for computers and communications equipment, will shut its last wafer plant as part of a plan to get all its silicon wafers from outside sources by the end of the year. Semtech said the Corpus Christi, Texas, facility would be closed within the next nine months but didn't indicate how many jobs would be affected. Semtech shares fell 41 cents to $33.74 on Nasdaq.
CALIFORNIA | LOCAL
March 6, 2001
Semtech Corp. in Newbury Park, a semiconductor supplier, announced record sales and income for the fourth quarter and fiscal year, which ended Jan. 28. Net sales for the fourth quarter were $69.6 million, an increase of 26% over the previous year's fourth quarter. Net income for the quarter was $17.6 million, or 23 cents per diluted share, an increase of 75% over the prior-year period. Sequentially, net sales for the fourth quarter increased 1% and net income grew 5% over the previous quarter.
BUSINESS
August 23, 2000 | Bloomberg News
Semiconductor maker Semtech Corp. (SMTC) said Tuesday it will split its common stock 2-for-1 after the shares almost tripled over the past year. Shareholders as of Sept. 5 will receive one additional share for each share held, payable Sept. 25, Semtech said. The Newbury Park, Calif.-based company split its shares a year ago. Net income more than doubled to $13.7 million, or 36 cents a share, in the second quarter ended July 30 from $6.
BUSINESS
September 23, 1997
Semtech Corp. said it plans to purchase Edge Semiconductor for 750,000 shares of its common stock. Semtech is a Newbury Park-based supplier of integrated circuits and custom analog circuits. Edge Semiconductor, based in San Diego, is a seller of analog and mixed signal circuits. The deal is expected to close by the end of this year.
NEWS
January 30, 2001 | BRAD BERTON, SPECIAL TO THE TIMES
Two Century City high-rises that traded hands less than two years ago are for sale again as their owners look to take advantage of increased values and what may be peak market conditions. Westside real estate professionals expect that Divco West Properties and Bentall Corp. will make substantial profits as they sell the 20-story 1901 Avenue of the Stars and 21-story 1888 Century Park East towers, respectively. The sales efforts come amid expectations of a slowdown in Southland office-tenant growth and a downsizing among Westside dot-com tenants.
CALIFORNIA | LOCAL
January 30, 2001
Semtech Corp. in Newbury Park said it expects to achieve analysts' earnings estimates of 23 cents per share for the fourth quarter ending Jan. 28. Semtech is forecasting that fourth-quarter revenue will be flat compared with third-quarter levels. Previously, the company's revenue growth forecast was 7% to 9% for the fourth quarter, compared with the previous quarter.
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