Semtech (NASDAQ:SMTC) issued an update on its fourth quarter 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.33-0.39 for the period, compared to the Thomson Reuters consensus estimate of $0.39. The company issued revenue guidance of $130-140 million, compared to the consensus revenue estimate of $139.24 million.
Shares of NASDAQ SMTC traded up $1.05 during midday trading on Wednesday, hitting $46.79. 588,297 shares of the company’s stock were exchanged, compared to its average volume of 555,726. Semtech has a 12-month low of $39.54 and a 12-month high of $57.96. The company has a current ratio of 4.10, a quick ratio of 3.42 and a debt-to-equity ratio of 0.27. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 3.92 and a beta of 1.91. The business’s fifty day moving average price is $50.65 and its two-hundred day moving average price is $47.57.
Several research analysts have recently commented on SMTC shares. Piper Jaffray Companies boosted their price objective on Semtech from $50.00 to $55.00 and gave the stock an overweight rating in a report on Thursday, September 26th. Cowen cut their price objective on Semtech from $56.00 to $54.00 and set an outperform rating for the company in a report on Monday, September 9th. Robert W. Baird set a $45.00 target price on Semtech and gave the stock a buy rating in a research report on Monday, August 26th. BWS Financial downgraded Semtech from a buy rating to a hold rating and dropped their target price for the stock from $70.00 to $50.00 in a research report on Friday, November 15th. Finally, Wells Fargo & Co restated an outperformer rating and issued a $60.00 target price (down previously from $65.00) on shares of Semtech in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Semtech presently has a consensus rating of Buy and a consensus price target of $48.64.
In related news, VP Mark C. Costello sold 8,951 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.80, for a total value of $418,906.80. Following the completion of the sale, the vice president now owns 3,090 shares in the company, valued at approximately $144,612. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Asaf Silberstein sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $55.00, for a total value of $330,000.00. Following the completion of the sale, the executive vice president now owns 50,653 shares of the company’s stock, valued at approximately $2,785,915. The disclosure for this sale can be found here. Insiders sold a total of 25,717 shares of company stock valued at $1,262,791 in the last 90 days. 1.96% of the stock is currently owned by corporate insiders.
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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