Semtech (SMTC) Scheduled to Post Quarterly Earnings on Wednesday

Semtech (NASDAQ:SMTCGet Rating) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 30th. Analysts expect Semtech to post earnings of $0.64 per share for the quarter. Semtech has set its Q3 2023 guidance at $0.60-$0.66 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Semtech (NASDAQ:SMTCGet Rating) last announced its earnings results on Wednesday, August 31st. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $209.25 million during the quarter, compared to analysts’ expectations of $208.29 million. Semtech had a return on equity of 21.18% and a net margin of 19.94%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. On average, analysts expect Semtech to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Semtech Trading Up 2.8 %

NASDAQ SMTC opened at $29.62 on Wednesday. Semtech has a 52-week low of $25.29 and a 52-week high of $92.15. The company has a quick ratio of 3.35, a current ratio of 4.12 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $28.77 and a 200 day moving average price of $45.25. The stock has a market capitalization of $1.88 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.90 and a beta of 1.64.

Hedge Funds Weigh In On Semtech

Large investors have recently modified their holdings of the company. State Street Corp increased its position in Semtech by 18.0% during the 3rd quarter. State Street Corp now owns 2,972,853 shares of the semiconductor company’s stock worth $87,432,000 after purchasing an additional 453,726 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Semtech by 77.6% in the first 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 during the period. BlackRock Inc. boosted its stake in shares of Semtech by 3.7% in the first quarter. BlackRock Inc. now owns 7,160,578 shares of the semiconductor company’s stock valued at $496,515,000 after purchasing an additional 257,224 shares during the period. Renaissance Technologies LLC grew its stake in Semtech by 236.9% during the 1st quarter. Renaissance Technologies LLC now owns 333,916 shares of the semiconductor company’s stock valued at $23,154,000 after purchasing an additional 234,800 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC increased its holdings in Semtech by 299.1% in the third quarter. BNP Paribas Arbitrage SNC now owns 279,584 shares of the semiconductor company’s stock valued at $8,223,000 after buying an additional 209,527 shares during the last quarter. 97.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SMTC shares. Needham & Company LLC cut Semtech to a “hold” rating in a report on Tuesday, August 9th. StockNews.com began coverage on shares of Semtech in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Benchmark cut their price objective on shares of Semtech to $65.00 in a research report on Tuesday, September 6th. Stifel Nicolaus reduced their price objective on shares of Semtech from $45.00 to $40.00 in a research note on Tuesday. Finally, Susquehanna Bancshares lowered their target price on shares of Semtech to $56.00 in a research note on Monday, August 29th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $58.83.

Semtech Company Profile

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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 for Semtech (NASDAQ:SMTC)

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