Semtech (SMTC) Updates Q1 2020 Earnings Guidance

Semtech (NASDAQ:SMTC) updated its first quarter 2020 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.30-0.36 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.51. The company issued revenue guidance of $125-135 million, compared to the consensus revenue estimate of $156.16 million.Semtech also updated its Q1 guidance to $0.30-0.36 EPS.

A number of research analysts have weighed in on the stock. B. Riley decreased their target price on shares of Semtech from $68.00 to $65.00 and set a buy rating on the stock in a research note on Thursday. Roth Capital lowered shares of Semtech from a buy rating to a neutral rating and set a $49.00 target price on the stock. in a research note on Thursday. BidaskClub lowered shares of Semtech from a buy rating to a hold rating in a research report on Thursday, March 7th. ValuEngine lowered shares of Semtech from a strong-buy rating to a buy rating in a research report on Friday, March 1st. Finally, Zacks Investment Research raised shares of Semtech from a sell rating to a hold rating in a research report on Friday, February 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $59.00.

SMTC stock opened at $51.98 on Friday. The company has a market cap of $3.63 billion, a PE ratio of 37.13, a PEG ratio of 2.44 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.53 and a current ratio of 4.03. Semtech has a one year low of $37.60 and a one year high of $60.55.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The firm had revenue of $160.00 million for the quarter, compared to analyst estimates of $158.48 million. Semtech had a net margin of 7.97% and a return on equity of 14.23%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. Analysts forecast that Semtech will post 1.56 earnings per share for the current year.

In related news, Director Rockell N. Hankin sold 10,000 shares of Semtech stock in a transaction that occurred on Thursday, January 10th. The shares were sold at an average price of $50.04, for a total value of $500,400.00. Following the completion of the sale, the director now owns 144,940 shares in the company, valued at approximately $7,252,797.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emeka Chukwu sold 1,100 shares of Semtech stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $54.97, for a total transaction of $60,467.00. Following the completion of the sale, the chief financial officer now owns 98,297 shares of the company’s stock, valued at approximately $5,403,386.09. The disclosure for this sale can be found here. Insiders sold a total of 52,300 shares of company stock valued at $2,516,512 in the last quarter. 2.30% of the stock is owned by insiders.

WARNING: This article was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2019/03/15/semtech-smtc-updates-q1-2020-earnings-guidance.html.

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.

Recommended Story: Fiduciary

Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.