Semtech Co. (NASDAQ:SMTC) Expected to Post Quarterly Sales of $208.41 Million

Equities analysts forecast that Semtech Co. (NASDAQ:SMTCGet Rating) will post $208.41 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Semtech’s earnings, with estimates ranging from $208.00 million to $210.00 million. Semtech posted sales of $185.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.7%. The business is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Semtech will report full-year sales of $838.39 million for the current year, with estimates ranging from $833.70 million to $847.00 million. For the next year, analysts forecast that the company will report sales of $908.41 million, with estimates ranging from $880.60 million to $930.86 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Semtech.

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

Several research analysts have commented on SMTC shares. Stifel Nicolaus dropped their price objective on shares of Semtech from $102.00 to $95.00 in a research note on Thursday, March 17th. Cowen reduced their target price on shares of Semtech to $85.00 in a research report on Friday, June 3rd. StockNews.com started coverage on shares of Semtech in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Susquehanna Bancshares reduced their target price on shares of Semtech from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 1st. Finally, Zacks Investment Research lowered shares of 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. Three 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. According to data from MarketBeat, Semtech has a consensus rating of “Buy” and a consensus target price of $78.91.

In other Semtech news, EVP John Michael Wilson sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $62.28, for a total value of $560,520.00. Following the completion of the sale, the executive vice president now directly owns 16,385 shares in the company, valued at $1,020,457.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mohan Maheswaran sold 25,000 shares of Semtech stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $70.13, for a total transaction of $1,753,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,921 shares of company stock valued at $3,202,776. 1.30% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Sageworth Trust Co of South Dakota acquired a new stake in shares of Semtech during the fourth quarter worth $25,000. First Horizon Advisors Inc. raised its holdings in shares of Semtech by 107.2% during the fourth quarter. First Horizon Advisors Inc. now owns 487 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 252 shares during the last quarter. Private Capital Group LLC raised its holdings in shares of Semtech by 132.4% during the first quarter. Private Capital Group LLC now owns 588 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 335 shares during the last quarter. Covestor Ltd purchased a new position in shares of Semtech during the fourth quarter worth $56,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Semtech during the first quarter worth $44,000. Institutional investors and hedge funds own 96.33% of the company’s stock.

NASDAQ SMTC opened at $60.65 on Thursday. 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 fifty day moving average of $61.80 and a two-hundred day moving average of $71.63. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 1.50 and a beta of 1.53. Semtech has a 52 week low of $56.00 and a 52 week high of $94.92.

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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Earnings History and Estimates for Semtech (NASDAQ:SMTC)

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