$0.50 EPS Expected for Semtech Corporation (SMTC) This Quarter
Brokerages predict that Semtech Corporation (NASDAQ:SMTC) will announce earnings of $0.50 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Semtech Corporation’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.51. Semtech Corporation posted earnings per share of $0.37 in the same quarter last year, which would indicate a positive year-over-year growth rate of 35.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 29th.
On average, analysts expect that Semtech Corporation will report full-year earnings of $1.88 per share for the current year, with EPS estimates ranging from $1.84 to $1.91. For the next fiscal year, analysts forecast that the business will report earnings of $2.30 per share, with EPS estimates ranging from $2.20 to $2.44. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Semtech Corporation.
Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The business had revenue of $153.10 million for the quarter, compared to the consensus estimate of $154.91 million. During the same quarter in the prior year, the company earned $0.35 EPS. The business’s revenue was up 12.7% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Semtech Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. B. Riley reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Semtech Corporation in a research note on Sunday, September 3rd. Drexel Hamilton reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Semtech Corporation in a research note on Thursday, August 31st. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Semtech Corporation in a research note on Sunday, August 27th. Finally, BidaskClub cut Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $43.50.
Semtech Corporation (SMTC) traded up 1.00% during trading on Friday, hitting $35.40. The stock had a trading volume of 250,948 shares. Semtech Corporation has a one year low of $22.81 and a one year high of $41.15. The company has a market cap of $2.34 billion, a P/E ratio of 37.42 and a beta of 1.45. The firm has a 50 day moving average of $37.21 and a 200-day moving average of $35.86.
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In related news, CFO Emeka Chukwu sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $39.89, for a total transaction of $79,780.00. Following the completion of the transaction, the chief financial officer now directly owns 77,776 shares of the company’s stock, valued at approximately $3,102,484.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles B. Ammann sold 2,250 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $34.99, for a total value of $78,727.50. Following the transaction, the executive vice president now directly owns 14,905 shares of the company’s stock, valued at $521,525.95. The disclosure for this sale can be found here. Insiders have sold a total of 51,294 shares of company stock valued at $1,898,842 over the last three months. 2.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in Semtech Corporation by 49.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 167,926 shares of the semiconductor company’s stock worth $6,003,000 after purchasing an additional 55,714 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Semtech Corporation during the 2nd quarter worth $508,000. Sterling Capital Management LLC acquired a new position in Semtech Corporation during the 2nd quarter worth $1,457,000. CS Mckee LP grew its stake in Semtech Corporation by 0.3% during the 2nd quarter. CS Mckee LP now owns 58,500 shares of the semiconductor company’s stock worth $2,091,000 after purchasing an additional 200 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Semtech Corporation by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock worth $1,781,000 after purchasing an additional 186 shares in the last quarter. 94.42% of the stock is owned by hedge funds and other institutional investors.
About Semtech Corporation
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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