Brokerages Expect Semtech Co. (NASDAQ:SMTC) Will Announce Earnings of $0.84 Per Share

Analysts expect Semtech Co. (NASDAQ:SMTCGet Rating) to announce earnings per share (EPS) of $0.84 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Semtech’s earnings, with estimates ranging from $0.77 to $0.88. Semtech posted earnings per share of $0.65 during the same quarter last year, which would indicate a positive year over year growth rate of 29.2%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Semtech will report full year earnings of $3.38 per share for the current fiscal year, with EPS estimates ranging from $3.20 to $3.47. For the next fiscal year, analysts forecast that the firm will report earnings of $3.79 per share, with EPS estimates ranging from $3.65 to $4.00. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Semtech.

Semtech (NASDAQ:SMTCGet Rating) last posted its earnings results on Wednesday, June 1st. The semiconductor company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. Semtech had a return on equity of 20.24% and a net margin of 18.15%. The company had revenue of $202.10 million during the quarter, compared to the consensus estimate of $199.98 million. During the same quarter last year, the firm earned $0.38 earnings per share. The company’s revenue was up 18.6% on a year-over-year basis.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Semtech from a “strong-buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research report on Tuesday, May 17th. StockNews.com initiated coverage on Semtech in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Needham & Company LLC reduced their target price on Semtech from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, June 2nd. Oppenheimer dropped their price target on Semtech from $100.00 to $85.00 in a research note on Thursday, May 26th. Finally, Wells Fargo & Company lowered their target price on Semtech from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, March 17th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $78.91.

Shares of SMTC traded up $0.43 during midday trading on Tuesday, reaching $62.58. 261,940 shares of the stock were exchanged, compared to its average volume of 430,128. The company has a market cap of $3.97 billion, a P/E ratio of 29.11, a PEG ratio of 1.51 and a beta of 1.53. The stock’s 50 day simple moving average is $62.00 and its 200 day simple moving average is $71.71. Semtech has a twelve month low of $56.00 and a twelve month high of $94.92. The company has a quick ratio of 3.52, a current ratio of 4.49 and a debt-to-equity ratio of 0.25.

In related news, CEO Mohan Maheswaran sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $70.13, for a total value of $1,753,250.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Christopher H. Chang sold 6,950 shares of the stock in a transaction on Monday, March 28th. The shares were sold at an average price of $70.57, for a total value of $490,461.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,921 shares of company stock valued at $3,202,776. Corporate insiders own 1.30% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Sageworth Trust Co of South Dakota purchased a new position in shares of Semtech during the 4th quarter valued at about $25,000. First Horizon Advisors Inc. raised its stake in shares of Semtech by 107.2% during the 4th quarter. First Horizon Advisors Inc. now owns 487 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 252 shares during the last quarter. Private Capital Group LLC raised its stake in shares of Semtech by 132.4% during the 1st quarter. Private Capital Group LLC now owns 588 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 335 shares during the last quarter. Covestor Ltd purchased a new position in shares of Semtech during the 4th quarter valued at about $56,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Semtech during the 1st quarter valued at about $44,000. Institutional investors own 96.33% of the company’s stock.

About Semtech (Get Rating)

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.

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