Brokerages expect Semtech Co. (NASDAQ:SMTC) to announce sales of $149.86 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Semtech’s earnings, with the highest sales estimate coming in at $150.00 million and the lowest estimate coming in at $149.20 million. Semtech reported sales of $141.01 million during the same quarter last year, which indicates a positive year over year growth rate of 6.3%. The business is scheduled to issue its next quarterly earnings results on Wednesday, December 2nd.
On average, analysts expect that Semtech will report full year sales of $576.30 million for the current fiscal year, with estimates ranging from $571.90 million to $579.26 million. For the next financial year, analysts expect that the business will report sales of $644.20 million, with estimates ranging from $617.45 million to $676.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Semtech.
Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, August 26th. The semiconductor company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $143.66 million for the quarter, compared to analyst estimates of $141.81 million. Semtech had a net margin of 8.34% and a return on equity of 9.25%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS.
Several equities research analysts recently commented on the stock. B. Riley boosted their price objective on shares of Semtech from $65.00 to $72.00 in a research report on Thursday, August 27th. Needham & Company LLC reiterated a “buy” rating and issued a $68.00 price objective on shares of Semtech in a research report on Thursday, August 27th. Oppenheimer assumed coverage on shares of Semtech in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $65.00 price objective on the stock. Zacks Investment Research lowered shares of Semtech from a “hold” rating to a “strong sell” rating and set a $50.00 price objective on the stock. in a research report on Tuesday, September 1st. Finally, Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $61.14.
Shares of NASDAQ SMTC traded up $0.94 during trading on Thursday, hitting $51.23. 436,421 shares of the company were exchanged, compared to its average volume of 523,210. Semtech has a 1 year low of $26.03 and a 1 year high of $64.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.45 and a quick ratio of 3.69. The firm’s fifty day moving average price is $58.33 and its 200 day moving average price is $49.44. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 74.24, a PEG ratio of 4.33 and a beta of 1.66.
In other news, CEO Mohan Maheswaran sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $59.75, for a total transaction of $597,500.00. Following the completion of the sale, the chief executive officer now owns 139,135 shares in the company, valued at approximately $8,313,316.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sharon K. Faltemier sold 3,925 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 31,356 shares of the company’s stock, valued at approximately $1,875,088.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,925 shares of company stock valued at $1,769,195. Corporate insiders own 1.79% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Invesco Ltd. increased its position in Semtech by 7.4% in the first quarter. Invesco Ltd. now owns 4,723,977 shares of the semiconductor company’s stock worth $177,149,000 after buying an additional 323,552 shares during the period. Macquarie Group Ltd. increased its position in Semtech by 7.1% in the second quarter. Macquarie Group Ltd. now owns 1,568,669 shares of the semiconductor company’s stock worth $81,915,000 after buying an additional 104,063 shares during the period. Schroder Investment Management Group increased its position in Semtech by 402.6% in the first quarter. Schroder Investment Management Group now owns 1,436,597 shares of the semiconductor company’s stock worth $58,441,000 after buying an additional 1,150,774 shares during the period. Franklin Resources Inc. increased its position in Semtech by 96.1% in the first quarter. Franklin Resources Inc. now owns 1,132,172 shares of the semiconductor company’s stock worth $42,457,000 after buying an additional 554,809 shares during the period. Finally, Geode Capital Management LLC increased its position in Semtech by 7.0% in the first quarter. Geode Capital Management LLC now owns 1,044,114 shares of the semiconductor company’s stock worth $39,153,000 after buying an additional 67,910 shares during the period. 95.53% of the stock is currently 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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