Semtech Co. (SMTC) Expected to Announce Quarterly Sales of $140.50 Million

Analysts expect Semtech Co. (NASDAQ:SMTC) to announce $140.50 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Semtech’s earnings. The lowest sales estimate is $140.00 million and the highest is $141.68 million. Semtech reported sales of $140.03 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.3%. The company is expected to issue its next earnings report on Wednesday, March 14th.

On average, analysts expect that Semtech will report full year sales of $140.50 million for the current financial year, with estimates ranging from $601.96 million to $603.64 million. For the next financial year, analysts expect that the business will post sales of $649.40 million per share, with estimates ranging from $635.30 million to $673.65 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Semtech.

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

A number of equities research analysts recently commented on the company. Zacks Investment Research raised Semtech from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. BidaskClub cut Semtech from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of Semtech in a research note on Thursday, January 18th. Roth Capital assumed coverage on Semtech in a research note on Friday, January 5th. They set a “buy” rating and a $39.00 price objective for the company. Finally, Piper Jaffray Companies assumed coverage on Semtech in a research note on Monday, December 18th. They set a “neutral” rating and a $35.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $41.90.

Shares of Semtech (SMTC) opened at $32.85 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.20 and a current ratio of 3.80. Semtech has a 52 week low of $31.30 and a 52 week high of $41.95. The company has a market capitalization of $2,156.65, a price-to-earnings ratio of 47.61, a P/E/G ratio of 4.36 and a beta of 1.41.

In other Semtech news, CFO Emeka Chukwu sold 2,000 shares of Semtech stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $34.32, for a total transaction of $68,640.00. Following the transaction, the chief financial officer now directly owns 71,776 shares in the company, valued at $2,463,352.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mohan Maheswaran sold 2,500 shares of Semtech stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $38.98, for a total value of $97,450.00. Following the transaction, the insider now owns 210,372 shares in the company, valued at $8,200,300.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,784 shares of company stock worth $2,512,405. Corporate insiders own 2.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Paloma Partners Management Co bought a new position in Semtech during the fourth quarter worth about $1,094,000. Guggenheim Capital LLC lifted its holdings in Semtech by 37.1% during the fourth quarter. Guggenheim Capital LLC now owns 18,823 shares of the semiconductor company’s stock worth $643,000 after acquiring an additional 5,095 shares in the last quarter. Deutsche Bank AG lifted its holdings in Semtech by 33.4% during the fourth quarter. Deutsche Bank AG now owns 176,631 shares of the semiconductor company’s stock worth $6,038,000 after acquiring an additional 44,199 shares in the last quarter. Wolverine Asset Management LLC bought a new position in Semtech during the fourth quarter worth about $1,484,000. Finally, Clearbridge LLC lifted its holdings in Semtech by 10.5% during the fourth quarter. Clearbridge LLC now owns 339,212 shares of the semiconductor company’s stock worth $11,601,000 after acquiring an additional 32,240 shares in the last quarter. Hedge funds and other institutional investors own 96.47% of the company’s stock.

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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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