Semtech (SMTC) Releases Q1 Earnings Guidance

Semtech (NASDAQ:SMTC) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.30-0.36 for the period, compared to the Thomson Reuters consensus estimate of $0.51. The company issued revenue guidance of $125-135 million, compared to the consensus revenue estimate of $156.16 million.Semtech also updated its Q1 2020 guidance to $0.30-0.36 EPS.

Semtech stock opened at $51.98 on Friday. The company has a market capitalization of $3.63 billion, a P/E ratio of 37.13, a P/E/G ratio of 2.44 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.03 and a quick ratio of 3.53. Semtech has a fifty-two week low of $37.60 and a fifty-two week high of $60.55.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The business had revenue of $160.00 million during the quarter, compared to the consensus estimate of $158.48 million. Semtech had a net margin of 7.97% and a return on equity of 14.23%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, sell-side analysts expect that Semtech will post 1.56 EPS for the current year.

SMTC has been the subject of several research reports. Roth Capital set a $62.00 price target on shares of Semtech and gave the stock a buy rating in a research note on Thursday, November 29th. B. Riley reiterated a buy rating and set a $61.00 target price (up previously from $58.00) on shares of Semtech in a research note on Thursday, November 29th. Piper Jaffray Companies boosted their target price on shares of Semtech from $55.00 to $57.00 and gave the stock an overweight rating in a research note on Thursday, November 29th. Royal Bank of Canada reiterated an outperform rating and set a $55.00 target price on shares of Semtech in a research note on Thursday, November 29th. Finally, ValuEngine upgraded shares of Semtech from a buy rating to a strong-buy rating in a research note on Friday, February 22nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $59.00.

In related news, EVP John Michael Wilson sold 5,000 shares of the business’s stock in a transaction on Monday, December 31st. The shares were sold at an average price of $45.52, for a total transaction of $227,600.00. Following the completion of the transaction, the executive vice president now owns 77,419 shares in the company, valued at $3,524,112.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Emeka Chukwu sold 1,100 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $54.97, for a total transaction of $60,467.00. Following the transaction, the chief financial officer now owns 98,297 shares of the company’s stock, valued at approximately $5,403,386.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,300 shares of company stock valued at $2,516,512. Insiders own 2.30% of the company’s stock.

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About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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