Equities research analysts expect that Semtech Co. (NASDAQ:SMTC) will report $0.54 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Semtech’s earnings, with estimates ranging from $0.52 to $0.55. Semtech reported earnings of $0.48 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The business is expected to report its next earnings report after the market closes on Wednesday, August 29th.

According to Zacks, analysts expect that Semtech will report full year earnings of $2.23 per share for the current financial year, with EPS estimates ranging from $2.12 to $2.34. For the next year, analysts forecast that the business will report earnings of $2.64 per share, with EPS estimates ranging from $2.50 to $3.03. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Semtech.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, May 30th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $151.90 million during the quarter, compared to analyst estimates of $150.33 million. Semtech had a return on equity of 12.05% and a net margin of 6.44%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS.

A number of equities analysts have issued reports on SMTC shares. Loop Capital started coverage on Semtech in a research note on Thursday, June 21st. They set a “buy” rating and a $60.00 price target for the company. BWS Financial increased their price target on Semtech from $40.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, June 21st. B. Riley increased their price target on Semtech from $57.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, June 21st. Needham & Company LLC increased their price target on Semtech from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, June 21st. Finally, Roth Capital increased their price target on Semtech from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, May 31st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $54.10.

NASDAQ SMTC traded up $0.50 on Wednesday, reaching $50.45. 429,331 shares of the stock traded hands, compared to its average volume of 310,610. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.51 and a current ratio of 4.09. The firm has a market cap of $3.36 billion, a P/E ratio of 36.04, a PEG ratio of 8.96 and a beta of 1.37. Semtech has a 12 month low of $31.30 and a 12 month high of $51.95.

In other news, CFO Emeka Chukwu sold 13,000 shares of the stock in a transaction on Friday, July 13th. The stock was sold at an average price of $50.13, for a total transaction of $651,690.00. Following the completion of the sale, the chief financial officer now owns 103,430 shares in the company, valued at approximately $5,184,945.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James T. Lindstrom sold 2,500 shares of the stock in a transaction on Friday, June 8th. The shares were sold at an average price of $49.46, for a total value of $123,650.00. Following the sale, the director now owns 22,500 shares of the company’s stock, valued at approximately $1,112,850. The disclosure for this sale can be found here. Insiders have sold a total of 311,453 shares of company stock valued at $15,434,742 in the last quarter. Insiders own 2.30% of the company’s stock.

Large investors have recently made changes to their positions in the company. Frontier Capital Management Co. LLC lifted its holdings in shares of Semtech by 51.0% in the first quarter. Frontier Capital Management Co. LLC now owns 3,722,826 shares of the semiconductor company’s stock valued at $145,376,000 after purchasing an additional 1,257,431 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Semtech by 4,098.9% in the first quarter. Summit Trail Advisors LLC now owns 1,232,755 shares of the semiconductor company’s stock valued at $1,233,000 after purchasing an additional 1,203,396 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Semtech by 6.4% in the second quarter. BlackRock Inc. now owns 9,134,382 shares of the semiconductor company’s stock valued at $429,775,000 after purchasing an additional 549,595 shares in the last quarter. Columbus Circle Investors purchased a new stake in shares of Semtech in the second quarter valued at $24,791,000. Finally, Voya Investment Management LLC lifted its holdings in shares of Semtech by 1,173.5% in the second quarter. Voya Investment Management LLC now owns 361,573 shares of the semiconductor company’s stock valued at $17,012,000 after purchasing an additional 333,180 shares in the last quarter. Institutional investors own 95.15% of the company’s stock.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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