Analysts expect Semtech Co. (NASDAQ:SMTC) to post sales of $134.75 million for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Semtech’s earnings, with the highest sales estimate coming in at $136.19 million and the lowest estimate coming in at $131.61 million. Semtech posted sales of $163.21 million during the same quarter last year, which suggests a negative year over year growth rate of 17.4%. The company is expected to announce its next earnings results after the market closes on Wednesday, August 28th.
On average, analysts expect that Semtech will report full-year sales of $574.77 million for the current year, with estimates ranging from $555.11 million to $590.81 million. For the next fiscal year, analysts expect that the firm will post sales of $653.05 million, with estimates ranging from $601.04 million to $712.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Semtech.
Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, May 29th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.16. The business had revenue of $131.40 million for the quarter, compared to the consensus estimate of $130.40 million. Semtech had a net margin of 10.18% and a return on equity of 14.05%. The company’s revenue was down 13.5% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share.
SMTC has been the topic of several recent analyst reports. Wells Fargo & Co initiated coverage on shares of Semtech in a report on Tuesday, May 14th. They set an “outperform” rating and a $48.03 price objective on the stock. ValuEngine upgraded shares of Semtech from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Zacks Investment Research upgraded shares of Semtech from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 14th. BidaskClub cut shares of Semtech from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Finally, B. Riley cut their price objective on shares of Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $55.00.
In other Semtech news, EVP James Jungsup Kim sold 30,000 shares of Semtech stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $43.81, for a total transaction of $1,314,300.00. Following the completion of the sale, the executive vice president now directly owns 81,854 shares in the company, valued at $3,586,023.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alisair Fulton sold 1,500 shares of Semtech stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $49.38, for a total transaction of $74,070.00. Following the sale, the vice president now owns 382 shares of the company’s stock, valued at $18,863.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,333 shares of company stock valued at $5,116,475. Company insiders own 1.96% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in SMTC. Cullen Frost Bankers Inc. purchased a new position in shares of Semtech in the first quarter valued at approximately $27,000. Cornerstone Advisors Inc. boosted its stake in shares of Semtech by 3,725.0% in the first quarter. Cornerstone Advisors Inc. now owns 612 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 596 shares during the period. Point72 Hong Kong Ltd boosted its stake in shares of Semtech by 28.1% in the second quarter. Point72 Hong Kong Ltd now owns 1,450 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 318 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Semtech in the second quarter valued at approximately $86,000. Finally, Starr International Co. Inc. purchased a new position in shares of Semtech in the first quarter valued at approximately $131,000. Institutional investors and hedge funds own 96.34% of the company’s stock.
SMTC traded up $1.29 during midday trading on Friday, hitting $45.35. 862,766 shares of the company traded hands, compared to its average volume of 611,380. The company has a current ratio of 4.42, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 3.44 and a beta of 1.85. Semtech has a 52-week low of $39.54 and a 52-week high of $60.55. The business has a 50 day simple moving average of $49.05 and a two-hundred day simple moving average of $49.98.
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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