Analysts expect Semtech Co. (NASDAQ:SMTC) to announce $0.36 earnings per share for the current quarter, according to Zacks. Nine analysts have issued estimates for Semtech’s earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.34. Semtech posted earnings of $0.55 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 34.5%. The company is scheduled to issue its next earnings report on Wednesday, September 4th.
According to Zacks, analysts expect that Semtech will report full-year earnings of $1.71 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.86. For the next fiscal year, analysts expect that the company will report earnings of $2.18 per share, with EPS estimates ranging from $1.80 to $2.59. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Semtech.
Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.16. Semtech had a net margin of 10.18% and a return on equity of 14.05%. The company had revenue of $131.40 million for the quarter, compared to the consensus estimate of $130.40 million. During the same period in the previous year, the firm earned $0.47 earnings per share. Semtech’s quarterly revenue was down 13.5% compared to the same quarter last year.
A number of equities research analysts have weighed in on SMTC shares. B. Riley dropped their price target on shares of Semtech from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. BidaskClub cut shares of Semtech from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Zacks Investment Research cut shares of Semtech from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 19th. ValuEngine cut shares of Semtech from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Roth Capital cut shares of Semtech from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research report on Thursday, March 14th. One research 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. Semtech presently has an average rating of “Buy” and an average target price of $55.00.
In related news, CFO Emeka Chukwu sold 1,100 shares of Semtech stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $52.00, for a total value of $57,200.00. Following the completion of the transaction, the chief financial officer now owns 128,986 shares in the company, valued at $6,707,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Jungsup Kim sold 30,000 shares of Semtech stock in a transaction that occurred on 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 transaction, the executive vice president now owns 81,854 shares of the company’s stock, valued at approximately $3,586,023.74. The disclosure for this sale can be found here. Insiders sold 74,746 shares of company stock valued at $3,427,847 in the last 90 days. Company insiders own 1.96% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of Semtech by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,824 shares of the semiconductor company’s stock worth $3,604,000 after buying an additional 9,237 shares during the last quarter. Vanguard Group Inc raised its position in Semtech by 1.8% in the 3rd quarter. Vanguard Group Inc now owns 6,807,219 shares of the semiconductor company’s stock valued at $378,481,000 after purchasing an additional 122,945 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in Semtech in the 4th quarter valued at $25,000. Piedmont Investment Advisors Inc. raised its position in Semtech by 2.7% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 15,648 shares of the semiconductor company’s stock valued at $718,000 after purchasing an additional 415 shares during the last quarter. Finally, LPL Financial LLC raised its position in Semtech by 8.6% in the 4th quarter. LPL Financial LLC now owns 8,854 shares of the semiconductor company’s stock valued at $406,000 after purchasing an additional 703 shares during the last quarter. Institutional investors own 96.44% of the company’s stock.
SMTC stock traded up $0.29 during trading on Friday, reaching $48.51. 22,913 shares of the stock were exchanged, compared to its average volume of 679,615. The company has a quick ratio of 3.71, a current ratio of 4.42 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $44.71. Semtech has a 1 year low of $39.54 and a 1 year high of $60.55. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 3.39 and a beta of 1.81.
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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