Semtech (NASDAQ:SMTC) Releases Q1 Earnings Guidance

Semtech (NASDAQ:SMTC) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $(0.04)-$0.04 for the period, compared to the consensus estimate of $0.02. The company issued revenue guidance of $195-205 million, compared to the consensus revenue estimate of $195.28 million.

Wall Street Analyst Weigh In

SMTC has been the subject of a number of recent research reports. Robert W. Baird reissued an outperform rating and set a $40.00 price target on shares of Semtech in a research report on Tuesday. Needham & Company LLC reduced their price target on shares of Semtech from $35.00 to $26.00 and set a buy rating for the company in a research report on Thursday, December 7th. Stifel Nicolaus raised their price target on shares of Semtech from $22.00 to $26.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. Susquehanna raised their price target on shares of Semtech from $25.00 to $30.00 and gave the stock a positive rating in a research report on Thursday, March 14th. Finally, Roth Mkm reduced their price target on shares of Semtech from $46.00 to $42.00 and set a buy rating for the company in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $33.10.

Semtech Price Performance

SMTC traded down $0.37 on Thursday, hitting $27.49. 4,497,152 shares of the company’s stock were exchanged, compared to its average volume of 1,298,915. Semtech has a fifty-two week low of $13.13 and a fifty-two week high of $32.44. The company has a current ratio of 2.39, a quick ratio of 1.72 and a debt-to-equity ratio of 4.11. The firm has a 50-day moving average price of $21.48 and a 200-day moving average price of $20.40. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -3.56, a P/E/G ratio of 14.68 and a beta of 1.81.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMTC. BlackRock Inc. raised its holdings in shares of Semtech by 29.7% during the 1st quarter. BlackRock Inc. now owns 12,090,364 shares of the semiconductor company’s stock worth $291,861,000 after acquiring an additional 2,769,314 shares during the period. Point72 Asset Management L.P. raised its holdings in Semtech by 1,084.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 999,400 shares of the semiconductor company’s stock valued at $25,445,000 after buying an additional 915,000 shares during the period. Nuveen Asset Management LLC raised its holdings in Semtech by 374.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,148,681 shares of the semiconductor company’s stock valued at $25,168,000 after buying an additional 906,430 shares during the period. Macquarie Group Ltd. raised its holdings in Semtech by 49.6% in the 1st quarter. Macquarie Group Ltd. now owns 2,180,522 shares of the semiconductor company’s stock valued at $52,638,000 after buying an additional 722,908 shares during the period. Finally, Morgan Stanley raised its holdings in Semtech by 59.3% in the 4th quarter. Morgan Stanley now owns 1,924,955 shares of the semiconductor company’s stock valued at $55,227,000 after buying an additional 716,294 shares during the period.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.