$140.50 Million in Sales Expected for Semtech Co. (SMTC) This Quarter

Equities analysts expect that Semtech Co. (NASDAQ:SMTC) will announce sales of $140.50 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Semtech’s earnings, with the lowest sales estimate coming in at $140.00 million and the highest estimate coming in at $141.68 million. Semtech posted sales of $140.03 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.3%. The business is scheduled to issue its next earnings report on Wednesday, March 14th.

According to Zacks, analysts expect that Semtech will report full-year sales of $140.50 million for the current fiscal year, with estimates ranging from $601.96 million to $603.64 million. For the next financial year, analysts forecast that the firm will post sales of $649.40 million per share, with estimates ranging from $635.30 million to $673.65 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Semtech.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The firm had revenue of $156.60 million during the quarter, compared to the consensus estimate of $155.69 million. Semtech had a return on equity of 12.13% and a net margin of 7.79%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS.

A number of research firms have recently weighed in on SMTC. B. Riley reaffirmed a “buy” rating and set a $46.00 price target (down from $48.00) on shares of Semtech in a research note on Monday, November 27th. Zacks Investment Research raised Semtech from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Oppenheimer reaffirmed a “buy” rating and set a $42.00 price target on shares of Semtech in a research note on Sunday, November 19th. BWS Financial began coverage on Semtech in a research note on Monday, November 20th. They set a “buy” rating and a $49.00 price target for the company. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $39.00 price target on shares of Semtech in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Semtech has a consensus rating of “Buy” and a consensus target price of $41.90.

In other news, insider Mohan Maheswaran sold 2,500 shares of Semtech stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $38.98, for a total transaction of $97,450.00. Following the sale, the insider now owns 210,372 shares of the company’s stock, valued at approximately $8,200,300.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James Jungsup Kim sold 1,500 shares of Semtech stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $34.32, for a total value of $51,480.00. Following the sale, the senior vice president now directly owns 24,600 shares in the company, valued at approximately $844,272. The disclosure for this sale can be found here. Insiders sold a total of 47,534 shares of company stock worth $1,715,752 in the last ninety days. Insiders own 2.10% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Semtech by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,080,648 shares of the semiconductor company’s stock valued at $217,384,000 after buying an additional 75,993 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in Semtech by 15.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,465,395 shares of the semiconductor company’s stock valued at $84,317,000 after buying an additional 336,213 shares in the last quarter. State Street Corp boosted its stake in Semtech by 4.8% in the 2nd quarter. State Street Corp now owns 1,902,288 shares of the semiconductor company’s stock valued at $68,013,000 after buying an additional 86,399 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Semtech by 29.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,352,123 shares of the semiconductor company’s stock valued at $48,338,000 after buying an additional 309,928 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Semtech by 37.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,130,911 shares of the semiconductor company’s stock valued at $42,466,000 after purchasing an additional 310,698 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Shares of Semtech (SMTC) opened at $36.45 on Monday. Semtech has a one year low of $31.50 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.80 and a quick ratio of 3.20. The stock has a market capitalization of $2,430.00, a PE ratio of 53.60, a P/E/G ratio of 5.99 and a beta of 1.41.

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Semtech 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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