Equities analysts forecast that Semtech Corporation (NASDAQ:SMTC) will announce sales of $153.67 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Semtech Corporation’s earnings. The lowest sales estimate is $149.00 million and the highest is $156.00 million. Semtech Corporation posted sales of $137.19 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The business is expected to announce its next earnings report on Wednesday, November 29th.

According to Zacks, analysts expect that Semtech Corporation will report full year sales of $153.67 million for the current fiscal year, with estimates ranging from $592.31 million to $617.40 million. For the next year, analysts forecast that the business will post sales of $673.53 million per share, with estimates ranging from $644.59 million to $697.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Semtech Corporation.

Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The business had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $154.91 million. During the same quarter in the prior year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis.

Several research analysts have weighed in on the company. B. Riley reissued a “buy” rating and issued a $48.00 price objective on shares of Semtech Corporation in a research report on Thursday, October 5th. Zacks Investment Research cut Semtech Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Royal Bank Of Canada reissued a “hold” rating and issued a $39.00 price objective on shares of Semtech Corporation in a research report on Thursday, July 6th. BidaskClub cut Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $45.00 price objective on shares of Semtech Corporation in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $43.50.

In related news, insider Mohan Maheswaran sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $38.21, for a total transaction of $95,525.00. Following the sale, the insider now directly owns 222,872 shares in the company, valued at approximately $8,515,939.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rockell N. Hankin sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $36.65, for a total value of $183,250.00. Following the sale, the director now owns 154,940 shares in the company, valued at $5,678,551. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,501 shares of company stock worth $1,639,480. 2.10% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Semtech Corporation by 2.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 65 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Semtech Corporation by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the semiconductor company’s stock valued at $958,000 after purchasing an additional 100 shares during the period. Virginia Retirement Systems ET AL raised its stake in shares of Semtech Corporation by 1.0% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 100 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Semtech Corporation by 2.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,370 shares of the semiconductor company’s stock valued at $228,000 after purchasing an additional 150 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Semtech Corporation by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock valued at $1,781,000 after purchasing an additional 186 shares during the period. Institutional investors own 94.42% of the company’s stock.

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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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