Zacks: Brokerages Expect Semtech Corporation (SMTC) Will Post Quarterly Sales of $153.67 Million
Brokerages expect Semtech Corporation (NASDAQ:SMTC) to report $153.67 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Semtech Corporation’s earnings. The highest sales estimate is $156.00 million and the lowest is $149.00 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 firm is scheduled to issue its next quarterly 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 year, with estimates ranging from $592.31 million to $617.40 million. For the next fiscal year, analysts anticipate that the company will report sales of $673.53 million per share, with estimates ranging from $644.59 million to $697.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Semtech Corporation.
Semtech Corporation (NASDAQ:SMTC) last issued its earnings results on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $154.91 million. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 EPS.
SMTC has been the subject of several research analyst reports. B. Riley reaffirmed a “buy” rating and set a $48.00 target price on shares of Semtech Corporation in a research report on Thursday, October 5th. Drexel Hamilton reaffirmed a “buy” rating and set a $45.00 target price on shares of Semtech Corporation in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $42.00 target price on shares of Semtech Corporation in a research report on Sunday, August 27th. BidaskClub lowered Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 18th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $39.00 price target on shares of Semtech Corporation in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $43.50.
In related news, VP Mark C. Costello sold 897 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $37.81, for a total transaction of $33,915.57. Following the transaction, the vice president now directly owns 897 shares of the company’s stock, valued at approximately $33,915.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rockell N. Hankin sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $36.65, for a total value of $183,250.00. Following the transaction, the director now directly owns 154,940 shares in the company, valued at $5,678,551. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,017 shares of company stock worth $2,457,919. Insiders own 2.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SMTC. Strs Ohio increased its stake in 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 purchasing an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 purchasing an additional 65 shares during the period. Victory Capital Management Inc. purchased a new position in Semtech Corporation in the 1st quarter worth approximately $137,000. Oppenheimer Asset Management Inc. purchased a new position in Semtech Corporation in the 1st quarter worth approximately $144,000. Finally, Riverhead Capital Management LLC increased its stake in Semtech Corporation by 65.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,130 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 2,030 shares during the period. 94.37% of the stock is currently owned by institutional investors and hedge funds.
WARNING: “Zacks: Brokerages Expect Semtech Corporation (SMTC) Will Post Quarterly Sales of $153.67 Million” was published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/11/01/zacks-brokerages-expect-semtech-corporation-smtc-will-post-quarterly-sales-of-153-67-million.html.
Semtech Corporation (NASDAQ:SMTC) traded down 0.37% during mid-day trading on Wednesday, hitting $40.90. 66,924 shares of the stock traded hands. Semtech Corporation has a 12 month low of $22.81 and a 12 month high of $41.95. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 43.23 and a beta of 1.45. The stock’s 50 day moving average is $37.83 and its 200-day moving average is $36.85.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Semtech Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech Corporation and related companies with MarketBeat.com's FREE daily email newsletter.