Semtech Corp. (SMTC) to Release Earnings on Wednesday
Semtech Corp. (NASDAQ:SMTC) will post its quarterly earnings results after the market closes on Wednesday, November 30th. 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 issued its earnings results 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 firm had revenue of $135.90 million for the quarter. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. On average, analysts expect Semtech Corp. to post $1.06 EPS for the current fiscal year and $1.32 EPS for the next fiscal year.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 28.30 on Monday. Semtech Corp. has a one year low of $15.70 and a one year high of $28.45. The company has a 50-day moving average of $25.72 and a 200 day moving average of $25.07. The firm has a market cap of $1.86 billion, a PE ratio of 67.22 and a beta of 1.39.
SMTC has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. B. Riley reissued a “buy” rating and issued a $31.50 target price on shares of Semtech Corp. in a research note on Thursday, August 25th. Drexel Hamilton boosted their target price on shares of Semtech Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, September 1st. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Semtech Corp. in a research note on Monday, September 5th. Five investment 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 stock. The stock has an average rating of “Buy” and a consensus target price of $27.33.
In other news, VP Mark C. Costello sold 3,042 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total transaction of $83,563.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rockell N. Hankin sold 6,795 shares of the business’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $27.73, for a total value of $188,425.35. Following the sale, 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. Insiders own 2.10% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Zacks Investment Management purchased a new stake in shares of Semtech Corp. during the second quarter worth about $224,000. Summit Securities Group LLC purchased a new stake in shares of Semtech Corp. during the second quarter worth about $239,000. Panagora Asset Management Inc. boosted its stake 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 worth $247,000 after buying an additional 8,785 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Semtech Corp. during the third quarter worth about $248,000. Finally, Allianz Asset Management AG boosted its stake 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 worth $257,000 after buying an additional 405 shares during the last quarter. Institutional investors and hedge funds own 96.53% 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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