Semtech Corporation (SMTC) Expected to Post Earnings of $0.32 Per Share
Wall Street analysts expect Semtech Corporation (NASDAQ:SMTC) to report earnings per share (EPS) of $0.32 for the current quarter, Zacks reports. Three analysts have issued estimates for Semtech Corporation’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.33. Semtech Corporation posted earnings per share of $0.29 during the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The business is scheduled to issue its next earnings results on Wednesday, August 30th.
According to Zacks, analysts expect that Semtech Corporation will report full-year earnings of $1.25 per share for the current fiscal year, with EPS estimates ranging from $1.22 to $1.27. For the next financial year, analysts forecast that the company will post earnings of $1.59 per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Semtech Corporation.
Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Semtech Corporation had a net margin of 10.70% and a return on equity of 12.16%. The business had revenue of $149.10 million during the quarter, compared to the consensus estimate of $145.60 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year.
Several brokerages have recently issued reports on SMTC. B. Riley restated a “buy” rating and issued a $48.00 target price on shares of Semtech Corporation in a report on Thursday, June 1st. Zacks Investment Research upgraded shares of Semtech Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Robert W. Baird restated an “outperform” rating and issued a $45.00 target price on shares of Semtech Corporation in a report on Tuesday, June 13th. Royal Bank Of Canada restated a “hold” rating and issued a $39.00 target price on shares of Semtech Corporation in a report on Thursday, July 6th. Finally, Drexel Hamilton upped their target price on shares of Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, June 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Semtech Corporation has a consensus rating of “Buy” and a consensus target price of $43.50.
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In related news, VP Emeka Chukwu sold 2,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $36.66, for a total transaction of $73,320.00. Following the completion of the sale, the vice president now owns 77,776 shares in the company, valued at approximately $2,851,268.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Asaf Silberstein sold 1,500 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $35.48, for a total transaction of $53,220.00. Following the sale, the senior vice president now owns 32,036 shares of the company’s stock, valued at approximately $1,136,637.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,503 shares of company stock valued at $3,293,518. 2.20% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Semtech Corporation by 49.7% in the second quarter. Public Employees Retirement System of Ohio now owns 167,926 shares of the semiconductor company’s stock worth $6,003,000 after buying an additional 55,714 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Semtech Corporation during the second quarter worth $508,000. Sterling Capital Management LLC acquired a new stake in shares of Semtech Corporation during the second quarter worth $1,457,000. CS Mckee LP boosted its stake in shares of Semtech Corporation by 0.3% in the second quarter. CS Mckee LP now owns 58,500 shares of the semiconductor company’s stock worth $2,091,000 after buying an additional 200 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Semtech Corporation by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock worth $1,781,000 after buying an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.
Semtech Corporation (NASDAQ SMTC) traded down 1.114% during midday trading on Wednesday, hitting $37.725. 173,117 shares of the stock traded hands. The company has a 50-day moving average price of $37.86 and a 200 day moving average price of $35.41. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 42.010 and a beta of 1.44. Semtech Corporation has a one year low of $22.81 and a one year high of $41.15.
Semtech Corporation Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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