Semtech Corp. (SMTC) to Release Earnings on Wednesday
Semtech Corp. (NASDAQ:SMTC) will release its earnings data after the market closes on Wednesday, November 16th. Analysts expect Semtech Corp. to post earnings of $0.36 per share for the quarter. Semtech Corp. has set its Q3 guidance at 0.34-0.38 EPS.
Semtech Corp. (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 31st. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The business earned $135.90 million during the quarter. Semtech Corp. had a return on equity of 8.89% and a net margin of 5.55%. Semtech Corp.’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. On average, analysts expect Semtech Corp. to post $1.34 EPS for the current fiscal year and $1.59 EPS for the next fiscal year.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 26.00 on Tuesday. Semtech Corp. has a 12-month low of $15.70 and a 12-month high of $28.20. The firm has a market capitalization of $1.70 billion, a P/E ratio of 61.76 and a beta of 1.39. The stock has a 50 day moving average price of $25.79 and a 200 day moving average price of $24.76.
SMTC has been the topic of several analyst reports. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Semtech Corp. in a report on Monday, September 5th. Drexel Hamilton reiterated a “buy” rating and set a $32.00 target price on shares of Semtech Corp. in a report on Saturday, October 8th. Zacks Investment Research downgraded Semtech Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, B. Riley reiterated a “buy” rating and set a $37.00 target price on shares of Semtech Corp. in a report on Tuesday, October 11th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $27.33.
In other news, VP Mark C. Costello sold 3,042 shares of Semtech Corp. stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total value of $83,563.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rockell N. Hankin sold 6,795 shares of Semtech Corp. stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $27.73, for a total value of $188,425.35. Following the completion of the transaction, the director now owns 166,735 shares of the company’s stock, valued at approximately $4,623,561.55. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Panagora Asset Management Inc. raised its position in shares of Semtech Corp. by 7,084.7% in the third quarter. Panagora Asset Management Inc. now owns 8,909 shares of the company’s stock valued at $247,000 after buying an additional 8,785 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Semtech Corp. during the second quarter valued at approximately $224,000. Summit Securities Group LLC purchased a new position in shares of Semtech Corp. during the second quarter valued at approximately $239,000. Allianz Asset Management AG raised its position in shares of Semtech Corp. by 3.9% in the second quarter. Allianz Asset Management AG now owns 10,790 shares of the company’s stock valued at $257,000 after buying an additional 405 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Semtech Corp. by 3.6% in the second quarter. ProShare Advisors LLC now owns 13,694 shares of the company’s stock valued at $327,000 after buying an additional 470 shares during the last quarter. Institutional investors own 96.76% of the company’s stock.
Semtech Corp. Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
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