Brokerages Anticipate Semtech Corporation (SMTC) to Post $0.50 Earnings Per Share
Analysts forecast that Semtech Corporation (NASDAQ:SMTC) will report earnings of $0.50 per share for the current quarter, Zacks reports. Three analysts have made estimates for Semtech Corporation’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.50. Semtech Corporation reported earnings per share of $0.37 in the same quarter last year, which indicates a positive year-over-year growth rate of 35.1%. The firm is scheduled to announce its next earnings report on Wednesday, November 29th.
On average, analysts expect that Semtech Corporation will report full-year earnings of $1.88 per share for the current fiscal year, with EPS estimates ranging from $1.84 to $1.90. For the next financial year, analysts forecast that the firm will post earnings of $2.30 per share, with EPS estimates ranging from $2.20 to $2.44. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Semtech Corporation.
Semtech Corporation (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $153.10 million during the quarter, compared to analyst estimates of $154.91 million. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS.
Several analysts have recently commented on the stock. B. Riley restated a “buy” rating and set a $48.00 price objective on shares of Semtech Corporation in a research report on Thursday, October 5th. Royal Bank Of Canada restated a “hold” rating and set a $39.00 price objective on shares of Semtech Corporation in a research report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Semtech Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Drexel Hamilton restated a “buy” rating and set a $45.00 price objective on shares of Semtech Corporation in a research report on Thursday, August 31st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $42.00 target price on shares of Semtech Corporation in a research note on Sunday, August 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $43.50.
Semtech Corporation (NASDAQ:SMTC) opened at 40.00 on Wednesday. The stock’s 50 day moving average is $36.88 and its 200-day moving average is $36.20. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 42.28 and a beta of 1.45. Semtech Corporation has a 52-week low of $22.81 and a 52-week high of $41.15.
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In other Semtech Corporation news, CFO Emeka Chukwu sold 2,000 shares of Semtech Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $39.89, for a total value of $79,780.00. Following the completion of the transaction, the chief financial officer now directly owns 77,776 shares of the company’s stock, valued at approximately $3,102,484.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rockell N. Hankin sold 5,000 shares of Semtech Corporation stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $36.65, for a total transaction of $183,250.00. Following the completion of the transaction, the director now directly owns 154,940 shares of the company’s stock, valued at $5,678,551. The disclosure for this sale can be found here. Insiders have sold 50,751 shares of company stock valued at $1,911,345 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Strs Ohio grew its stake in shares of Semtech Corporation by 22.2% in the 2nd quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock worth $117,000 after buying an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Semtech Corporation by 2.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after buying an additional 65 shares in the last quarter. FNY Partners Fund LP grew its stake in shares of Semtech Corporation by 515.4% in the 1st quarter. FNY Partners Fund LP now owns 4,000 shares of the semiconductor company’s stock worth $135,000 after buying an additional 3,350 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Semtech Corporation in the 1st quarter worth $137,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Semtech Corporation in the 1st quarter worth $144,000. 94.42% of the stock is owned by institutional investors and hedge funds.
About Semtech Corporation
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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