Wall Street brokerages expect Semtech Co. (NASDAQ:SMTC) to report earnings per share of $0.34 for the current quarter, according to Zacks. Seven analysts have issued estimates for Semtech’s earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.32. Semtech reported earnings per share of $0.47 in the same quarter last year, which would suggest a negative year over year growth rate of 27.7%. The company is scheduled to issue its next earnings report on Wednesday, May 29th.
On average, analysts expect that Semtech will report full year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.66 to $2.11. For the next financial year, analysts expect that the firm will report earnings of $2.41 per share, with EPS estimates ranging from $2.10 to $2.78. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Semtech.
Semtech (NASDAQ:SMTC) last announced its earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. Semtech had a net margin of 10.05% and a return on equity of 13.94%. The business had revenue of $160.00 million during the quarter, compared to the consensus estimate of $158.48 million. During the same quarter last year, the firm earned $0.42 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis.
A number of equities analysts have weighed in on the stock. ValuEngine downgraded shares of Semtech from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. BidaskClub downgraded shares of Semtech from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research downgraded shares of Semtech from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 19th. B. Riley reduced their price target on shares of Semtech from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Finally, Roth Capital downgraded shares of Semtech from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Semtech presently has a consensus rating of “Hold” and an average price target of $59.00.
In related news, EVP Asaf Silberstein sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $53.19, for a total transaction of $53,190.00. Following the completion of the sale, the executive vice president now owns 54,133 shares of the company’s stock, valued at $2,879,334.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alisair Fulton sold 500 shares of Semtech stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $52.78, for a total transaction of $26,390.00. Following the completion of the sale, the vice president now directly owns 1,882 shares of the company’s stock, valued at approximately $99,331.96. The disclosure for this sale can be found here. Insiders have sold 123,614 shares of company stock valued at $6,667,466 in the last three months. 2.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. LS Investment Advisors LLC grew its position in Semtech by 4.6% in the 1st quarter. LS Investment Advisors LLC now owns 4,370 shares of the semiconductor company’s stock worth $222,000 after purchasing an additional 192 shares during the period. State of Alaska Department of Revenue grew its position in Semtech by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 22,005 shares of the semiconductor company’s stock worth $1,009,000 after purchasing an additional 200 shares during the period. Strs Ohio grew its position in Semtech by 2.8% in the 1st quarter. Strs Ohio now owns 7,300 shares of the semiconductor company’s stock worth $371,000 after purchasing an additional 200 shares during the period. Avitas Wealth Management LLC grew its position in Semtech by 0.6% in the 1st quarter. Avitas Wealth Management LLC now owns 36,965 shares of the semiconductor company’s stock worth $1,882,000 after purchasing an additional 223 shares during the period. Finally, Redmond Asset Management LLC grew its position in Semtech by 1.8% in the 1st quarter. Redmond Asset Management LLC now owns 14,900 shares of the semiconductor company’s stock worth $759,000 after purchasing an additional 267 shares during the period. 99.94% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ SMTC opened at $51.34 on Wednesday. Semtech has a fifty-two week low of $41.28 and a fifty-two week high of $60.55. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 3.37 and a beta of 1.65. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28.
Semtech Company Profile
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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.
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