Analysts expect that Semtech Co. (NASDAQ:SMTC) will post $149.86 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Semtech’s earnings. The lowest sales estimate is $149.20 million and the highest is $150.00 million. Semtech reported sales of $141.01 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.3%. The business is expected to announce its next earnings report on Wednesday, December 2nd.
According to Zacks, analysts expect that Semtech will report full-year sales of $576.30 million for the current financial year, with estimates ranging from $571.90 million to $579.26 million. For the next financial year, analysts expect that the company will post sales of $644.20 million, with estimates ranging from $617.45 million to $676.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Semtech.
Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Semtech had a return on equity of 9.25% and a net margin of 8.34%. The company had revenue of $143.66 million for the quarter, compared to the consensus estimate of $141.81 million. During the same quarter last year, the business posted $0.38 EPS. Semtech’s revenue for the quarter was up 4.7% on a year-over-year basis.
Several brokerages have commented on SMTC. Needham & Company LLC reaffirmed a “buy” rating and set a $68.00 target price on shares of Semtech in a report on Thursday, August 27th. Zacks Investment Research downgraded Semtech from a “hold” rating to a “strong sell” rating and set a $50.00 target price on the stock. in a report on Tuesday, September 1st. Cowen lifted their target price on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Wells Fargo & Company lifted their target price on Semtech from $57.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Finally, TheStreet raised Semtech from a “c” rating to a “b” rating in a report on Thursday, August 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. Semtech presently has an average rating of “Buy” and a consensus price target of $61.14.
Shares of NASDAQ SMTC traded up $0.94 during mid-day trading on Thursday, hitting $51.23. 436,421 shares of the stock traded hands, compared to its average volume of 523,210. The company has a market cap of $3.34 billion, a PE ratio of 74.24, a price-to-earnings-growth ratio of 4.33 and a beta of 1.66. Semtech has a twelve month low of $26.03 and a twelve month high of $64.10. The firm has a 50 day simple moving average of $58.33 and a two-hundred day simple moving average of $49.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.45 and a quick ratio of 3.69.
In related news, SVP Sharon K. Faltemier sold 3,925 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $59.80, for a total value of $234,715.00. Following the completion of the sale, the senior vice president now directly owns 31,356 shares of the company’s stock, valued at approximately $1,875,088.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Michael Wilson sold 6,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $53.92, for a total value of $323,520.00. Following the completion of the sale, the executive vice president now directly owns 87,769 shares of the company’s stock, valued at $4,732,504.48. The disclosure for this sale can be found here. Insiders sold a total of 30,925 shares of company stock valued at $1,769,195 over the last ninety days. 1.79% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC bought a new position in shares of Semtech in the second quarter worth $624,000. Principal Financial Group Inc. increased its holdings in shares of Semtech by 1.6% in the second quarter. Principal Financial Group Inc. now owns 205,318 shares of the semiconductor company’s stock worth $10,722,000 after purchasing an additional 3,236 shares during the period. Handelsbanken Fonder AB bought a new position in shares of Semtech in the second quarter worth $616,000. Charles Schwab Investment Management Inc. increased its stake in Semtech by 0.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 498,718 shares of the semiconductor company’s stock valued at $26,044,000 after acquiring an additional 1,492 shares during the last quarter. Finally, WCM Investment Management LLC increased its stake in Semtech by 3.4% in the second quarter. WCM Investment Management LLC now owns 219,662 shares of the semiconductor company’s stock valued at $11,471,000 after acquiring an additional 7,261 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.
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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