Q3 2022 EPS Estimates for Semtech Co. Boosted by Analyst (NASDAQ:SMTC)

Semtech Co. (NASDAQ:SMTC) – Equities research analysts at Oppenheimer raised their Q3 2022 EPS estimates for shares of Semtech in a note issued to investors on Monday, November 22nd. Oppenheimer analyst R. Schafer now forecasts that the semiconductor company will post earnings of $0.52 per share for the quarter, up from their previous estimate of $0.49. Oppenheimer currently has a “Outperform” rating and a $100.00 target price on the stock. Oppenheimer also issued estimates for Semtech’s Q4 2022 earnings at $0.48 EPS, FY2022 earnings at $1.87 EPS, Q1 2023 earnings at $0.49 EPS, Q2 2023 earnings at $0.59 EPS, Q3 2023 earnings at $0.64 EPS, Q4 2023 earnings at $0.59 EPS and FY2023 earnings at $2.32 EPS.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Tuesday, August 31st. The semiconductor company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $185.00 million during the quarter, compared to the consensus estimate of $182.89 million. Semtech had a return on equity of 14.21% and a net margin of 13.44%. The company’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share.

Other equities research analysts also recently issued research reports about the company. Susquehanna Bancshares reissued a “hold” rating and issued a $71.00 price target on shares of Semtech in a report on Monday, August 30th. Wells Fargo & Company reaffirmed a “buy” rating and set a $85.00 target price on shares of Semtech in a report on Friday, October 15th. Cowen lifted their target price on Semtech from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, August 23rd. Needham & Company LLC lifted their target price on Semtech from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, September 2nd. Finally, B. Riley reaffirmed a “buy” rating and set a $97.00 target price (up previously from $95.00) on shares of Semtech in a report on Thursday, September 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $82.55.

Shares of NASDAQ SMTC opened at $89.51 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.28 and a current ratio of 4.17. The company has a market cap of $5.76 billion, a PE ratio of 64.86, a P/E/G ratio of 3.95 and a beta of 1.51. The business has a 50-day simple moving average of $82.43 and a two-hundred day simple moving average of $70.97. Semtech has a fifty-two week low of $57.97 and a fifty-two week high of $94.92.

In other news, VP Michael W. Rodensky sold 2,779 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $77.63, for a total value of $215,733.77. Following the completion of the sale, the vice president now directly owns 5,585 shares in the company, valued at $433,563.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alisair Fulton sold 1,350 shares of the business’s stock in a transaction that occurred on Wednesday, October 13th. The shares were sold at an average price of $75.61, for a total value of $102,073.50. The disclosure for this sale can be found here. Insiders sold 21,826 shares of company stock valued at $1,671,743 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Semtech by 4.8% during the third quarter. Bank of New York Mellon Corp now owns 3,187,371 shares of the semiconductor company’s stock worth $248,519,000 after purchasing an additional 147,434 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Semtech during the third quarter worth approximately $512,000. Two Sigma Advisers LP purchased a new stake in shares of Semtech during the third quarter worth approximately $2,932,000. Two Sigma Investments LP boosted its stake in Semtech by 209.2% during the third quarter. Two Sigma Investments LP now owns 35,563 shares of the semiconductor company’s stock worth $2,773,000 after buying an additional 24,060 shares during the last quarter. Finally, UBS Group AG boosted its stake in Semtech by 36.5% during the third quarter. UBS Group AG now owns 10,737 shares of the semiconductor company’s stock worth $837,000 after buying an additional 2,869 shares during the last quarter. Hedge funds and other institutional investors own 94.87% of the company’s stock.

About Semtech

Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.

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Earnings History and Estimates for Semtech (NASDAQ:SMTC)

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