Semtech (NASDAQ:SMTC – Get Free Report) issued its quarterly earnings results on Wednesday. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.09, MarketWatch Earnings reports. Semtech had a positive return on equity of 2.56% and a negative net margin of 53.62%. The company had revenue of $238.37 million for the quarter, compared to the consensus estimate of $237.37 million. During the same period last year, the business posted $0.71 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. Semtech updated its Q3 guidance to $(0.22)-(0.09) EPS and its Q3 2024 guidance to -$0.22–$0.09 EPS.
Semtech Price Performance
NASDAQ:SMTC opened at $25.18 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.14 and a debt-to-equity ratio of 1.82. The firm has a market cap of $1.61 billion, a PE ratio of -3.67 and a beta of 1.70. Semtech has a 12 month low of $17.82 and a 12 month high of $35.18. The company’s 50-day moving average price is $26.48 and its two-hundred day moving average price is $24.92.
Institutional Trading of Semtech
Several hedge funds have recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in Semtech in the 2nd quarter valued at $41,000. Quarry LP bought a new stake in Semtech during the 1st quarter worth about $49,000. Captrust Financial Advisors raised its stake in shares of Semtech by 186.5% in the first quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 664 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Semtech during the first quarter worth approximately $84,000. Finally, Covestor Ltd increased its holdings in shares of Semtech by 123.9% in the first quarter. Covestor Ltd now owns 1,397 shares of the semiconductor company’s stock valued at $97,000 after purchasing an additional 773 shares in the last quarter.
Wall Street Analyst Weigh In
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.
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