Semtech (NASDAQ:SMTC – Get Rating) updated its second quarter 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.80-$0.90 for the period, compared to the consensus estimate of $0.83. The company issued revenue guidance of $203.00 million-$213.00 million, compared to the consensus revenue estimate of $210.23 million.
SMTC stock opened at $62.58 on Wednesday. Semtech has a 12-month low of $56.00 and a 12-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. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 1.51 and a beta of 1.53. The company has a 50 day moving average of $62.00 and a two-hundred day moving average of $71.71.
Semtech (NASDAQ:SMTC – Get Rating) last released its quarterly earnings results on Wednesday, June 1st. The semiconductor company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. Semtech had a net margin of 18.15% and a return on equity of 20.24%. The business had revenue of $202.10 million for the quarter, compared to the consensus estimate of $199.98 million. During the same quarter last year, the firm earned $0.38 EPS. Semtech’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, research analysts anticipate that Semtech will post 2.76 EPS for the current year.
In other Semtech news, EVP Asaf Silberstein sold 1,971 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $62.60, for a total transaction of $123,384.60. Following the completion of the transaction, the executive vice president now owns 59,000 shares of the company’s stock, valued at $3,693,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mohan Maheswaran sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $70.13, for a total value of $1,753,250.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,921 shares of company stock valued at $3,202,776. Corporate insiders own 1.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in Semtech by 77.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 834,381 shares of the semiconductor company’s stock valued at $57,856,000 after purchasing an additional 364,497 shares in the last quarter. BlackRock Inc. raised its position in shares of Semtech by 3.7% during the 1st quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company’s stock worth $496,515,000 after purchasing an additional 257,224 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Semtech by 236.9% in the 1st quarter. Renaissance Technologies LLC now owns 333,916 shares of the semiconductor company’s stock valued at $23,154,000 after acquiring an additional 234,800 shares during the last quarter. State Street Corp raised its holdings in Semtech by 4.4% in the 1st quarter. State Street Corp now owns 2,587,049 shares of the semiconductor company’s stock valued at $179,386,000 after acquiring an additional 107,848 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Semtech by 52.6% in the 1st quarter. Clearbridge Investments LLC now owns 265,222 shares of the semiconductor company’s stock valued at $18,390,000 after acquiring an additional 91,379 shares during the last quarter. Institutional investors own 96.33% of the company’s stock.
Semtech Company Profile (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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