Semtech (SMTC) Updates Q4 Earnings Guidance
Semtech (NASDAQ:SMTC) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.40-0.42 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.47. The company issued revenue guidance of $138-142 million, compared to the consensus revenue estimate of $152.95 million.
Several research firms have recently commented on SMTC. B. Riley reaffirmed a buy rating and issued a $48.00 price objective on shares of Semtech in a research note on Thursday, August 24th. BidaskClub downgraded Semtech from a strong-buy rating to a buy rating in a research note on Friday, August 18th. Zacks Investment Research downgraded Semtech from a hold rating to a sell rating in a research note on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a hold rating and issued a $39.00 price objective on shares of Semtech in a research note on Tuesday, October 3rd. Finally, BWS Financial began coverage on Semtech in a research note on Monday, November 20th. They issued a buy rating and a $49.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Semtech has a consensus rating of Buy and a consensus price target of $44.29.
Semtech (NASDAQ SMTC) traded down $0.05 during midday trading on Wednesday, hitting $38.75. The stock had a trading volume of 375,400 shares, compared to its average volume of 463,287. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.42 and a quick ratio of 2.83. Semtech has a 1 year low of $27.55 and a 1 year high of $41.95. The company has a market capitalization of $2,570.00, a P/E ratio of 36.96, a P/E/G ratio of 6.61 and a beta of 1.48.
In related news, SVP Asaf Silberstein sold 1,957 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $39.58, for a total transaction of $77,458.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohan Maheswaran sold 2,500 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $37.76, for a total value of $94,400.00. The disclosure for this sale can be found here. Insiders have sold 68,370 shares of company stock valued at $2,636,446 in the last quarter. 2.20% of the stock is currently owned by company insiders.
ILLEGAL ACTIVITY NOTICE: “Semtech (SMTC) Updates Q4 Earnings Guidance” was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/11/29/semtech-smtc-updates-q4-earnings-guidance.html.
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.
Receive News & Ratings for Semtech Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech Co. and related companies with MarketBeat.com's FREE daily email newsletter.