Equities analysts forecast that Semtech Co. (NASDAQ:SMTC) will report earnings of $0.61 per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Semtech’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.61. Semtech posted earnings per share of $0.54 during the same quarter last year, which would suggest a positive year-over-year growth rate of 13%. The company is expected to issue its next earnings results on Wednesday, December 5th.
On average, analysts expect that Semtech will report full year earnings of $2.23 per share for the current fiscal year, with EPS estimates ranging from $2.19 to $2.25. For the next year, analysts anticipate that the business will report earnings of $2.68 per share, with EPS estimates ranging from $2.55 to $2.91. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Semtech.
Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, August 29th. The semiconductor company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business had revenue of $163.20 million during the quarter, compared to the consensus estimate of $161.21 million. Semtech had a net margin of 8.48% and a return on equity of 12.66%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS.
Several brokerages recently commented on SMTC. Needham & Company LLC increased their price objective on shares of Semtech from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, June 21st. BidaskClub raised shares of Semtech from a “hold” rating to a “buy” rating in a research note on Thursday, May 31st. Oppenheimer increased their price objective on shares of Semtech from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, June 21st. B. Riley increased their price objective on shares of Semtech from $57.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, June 21st. Finally, Roth Capital increased their price objective on shares of Semtech from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, May 31st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Semtech presently has a consensus rating of “Buy” and an average price target of $57.70.
In other news, insider Mohan Maheswaran sold 2,500 shares of the stock in a transaction on Friday, June 15th. The shares were sold at an average price of $50.62, for a total transaction of $126,550.00. Following the completion of the sale, the insider now directly owns 154,465 shares in the company, valued at $7,819,018.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP James Jungsup Kim sold 13,412 shares of the stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $50.39, for a total transaction of $675,830.68. Following the sale, the senior vice president now owns 60,725 shares of the company’s stock, valued at $3,059,932.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,172 shares of company stock valued at $5,506,539. Corporate insiders own 2.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SMTC. Bank of Montreal Can acquired a new stake in shares of Semtech during the second quarter worth $124,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Semtech during the second quarter worth $160,000. GSA Capital Partners LLP acquired a new stake in shares of Semtech during the first quarter worth $201,000. Verition Fund Management LLC acquired a new stake in shares of Semtech during the first quarter worth $215,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Semtech during the second quarter worth $215,000. Institutional investors own 96.61% of the company’s stock.
Shares of NASDAQ:SMTC opened at $56.75 on Friday. The company has a market capitalization of $3.88 billion, a P/E ratio of 40.54, a P/E/G ratio of 7.52 and a beta of 1.50. The company has a quick ratio of 3.51, a current ratio of 4.13 and a debt-to-equity ratio of 0.29. Semtech has a one year low of $31.30 and a one year high of $60.05.
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, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.
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