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.

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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.

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