Wall Street analysts predict that Semtech (NASDAQ:SMTC) will announce sales of $150.16 million for the current quarter, according to Zacks. Five analysts have made estimates for Semtech’s earnings, with estimates ranging from $148.94 million to $152.16 million. Semtech reported sales of $143.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 30th.
According to Zacks, analysts expect that Semtech will report full year sales of $150.16 million for the current fiscal year, with estimates ranging from $644.00 million to $680.10 million. For the next year, analysts forecast that the company will report sales of $724.22 million per share, with estimates ranging from $705.29 million to $757.20 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Semtech.
Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, March 14th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The business had revenue of $142.11 million during the quarter, compared to the consensus estimate of $140.49 million. Semtech had a return on equity of 13.34% and a net margin of 6.20%. Semtech’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share.
A number of research analysts have weighed in on SMTC shares. BidaskClub upgraded Semtech from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Royal Bank of Canada raised their price target on Semtech to $39.00 and gave the company a “market perform” rating in a research note on Thursday, March 15th. Roth Capital set a $45.00 price target on Semtech and gave the company a “buy” rating in a research note on Thursday, March 15th. Summit Insights upgraded Semtech from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. Finally, Piper Jaffray started coverage on Semtech in a research note on Monday, December 18th. They issued a “neutral” rating and a $35.00 price target for the company. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $43.44.
Shares of NASDAQ:SMTC traded up $0.45 during mid-day trading on Friday, reaching $44.10. 2,321,180 shares of the stock were exchanged, compared to its average volume of 722,044. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.65. The company has a market cap of $2,847.10, a PE ratio of 31.50, a PEG ratio of 7.44 and a beta of 1.18. Semtech has a one year low of $31.30 and a one year high of $44.85.
In other news, VP Marc Pegulu sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 11th. The stock was sold at an average price of $43.21, for a total value of $86,420.00. Following the completion of the sale, the vice president now directly owns 18,953 shares of the company’s stock, valued at $818,959.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James Jungsup Kim sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $34.79, for a total value of $452,270.00. Following the completion of the sale, the senior vice president now directly owns 54,612 shares of the company’s stock, valued at $1,899,951.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,963 shares of company stock valued at $5,263,218. Corporate insiders own 2.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its position in shares of Semtech by 6.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the semiconductor company’s stock valued at $975,000 after buying an additional 1,700 shares during the last quarter. American International Group Inc. lifted its holdings in Semtech by 5.8% during the 3rd quarter. American International Group Inc. now owns 51,537 shares of the semiconductor company’s stock worth $1,935,000 after purchasing an additional 2,843 shares during the last quarter. Profund Advisors LLC lifted its holdings in Semtech by 16.6% during the 4th quarter. Profund Advisors LLC now owns 25,535 shares of the semiconductor company’s stock worth $873,000 after purchasing an additional 3,640 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Semtech by 37.1% during the 4th quarter. Guggenheim Capital LLC now owns 18,823 shares of the semiconductor company’s stock worth $643,000 after purchasing an additional 5,095 shares during the last quarter. Finally, Stifel Financial Corp acquired a new stake in Semtech during the 3rd quarter worth approximately $209,000. 97.48% of the stock is owned by institutional investors.
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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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