Analysts expect Semtech Co. (NASDAQ:SMTC) to report sales of $161.38 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Semtech’s earnings, with estimates ranging from $159.80 million to $163.66 million. Semtech reported sales of $153.13 million in the same quarter last year, which indicates a positive year over year growth rate of 5.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 29th.
According to Zacks, analysts expect that Semtech will report full year sales of $658.52 million for the current fiscal year, with estimates ranging from $645.47 million to $685.17 million. For the next financial year, analysts anticipate that the business will post sales of $727.46 million per share, with estimates ranging from $710.53 million to $760.60 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Semtech.
Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, May 30th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Semtech had a return on equity of 12.05% and a net margin of 6.44%. The company had revenue of $151.90 million during the quarter, compared to analysts’ expectations of $150.33 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year.
SMTC has been the subject of several research analyst reports. BidaskClub cut Semtech from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Royal Bank of Canada raised Semtech from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 9th. They noted that the move was a valuation call. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective (up previously from $45.00) on shares of Semtech in a research report on Thursday, May 31st. Oppenheimer boosted their price objective on Semtech from $42.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, May 24th. Finally, Roth Capital boosted their price objective on Semtech from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, May 31st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $54.10.
In related news, insider Mohan Maheswaran sold 2,500 shares of the business’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $42.98, for a total transaction of $107,450.00. Following the transaction, the insider now directly owns 229,319 shares in the company, valued at $9,856,130.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marc Pegulu sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the vice president now owns 15,953 shares in the company, valued at $797,650. The disclosure for this sale can be found here. Insiders have sold a total of 313,953 shares of company stock valued at $15,542,192 in the last three months. 2.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of SMTC. Bank of Montreal Can bought a new stake in shares of Semtech in the 2nd quarter valued at approximately $124,000. NumerixS Investment Technologies Inc bought a new stake in shares of Semtech in the 2nd quarter valued at approximately $160,000. GSA Capital Partners LLP bought a new stake in shares of Semtech in the 1st quarter valued at approximately $201,000. Miles Capital Inc. bought a new stake in shares of Semtech in the 1st quarter valued at approximately $204,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Semtech in the 4th quarter valued at approximately $215,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.
Shares of NASDAQ:SMTC traded down $1.45 on Tuesday, reaching $49.90. The company had a trading volume of 295,430 shares, compared to its average volume of 282,501. Semtech has a twelve month low of $31.30 and a twelve month high of $51.95. The stock has a market capitalization of $3.40 billion, a P/E ratio of 35.64, a P/E/G ratio of 9.07 and a beta of 1.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.09 and a quick ratio of 3.51.
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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