Wall Street analysts expect Semtech Corporation (NASDAQ:SMTC) to report earnings per share (EPS) of $0.32 for the current quarter, Zacks reports. Three analysts have issued estimates for Semtech Corporation’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.33. Semtech Corporation posted earnings per share of $0.29 during the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The business is scheduled to issue its next earnings results on Wednesday, August 30th.
According to Zacks, analysts expect that Semtech Corporation will report full-year earnings of $1.25 per share for the current fiscal year, with EPS estimates ranging from $1.22 to $1.27. For the next financial year, analysts forecast that the company will post earnings of $1.59 per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Semtech Corporation.
Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Semtech Corporation had a net margin of 10.70% and a return on equity of 12.16%. The business had revenue of $149.10 million during the quarter, compared to the consensus estimate of $145.60 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year.
Several brokerages have recently issued reports on SMTC. B. Riley restated a “buy” rating and issued a $48.00 target price on shares of Semtech Corporation in a report on Thursday, June 1st. Zacks Investment Research upgraded shares of Semtech Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Robert W. Baird restated an “outperform” rating and issued a $45.00 target price on shares of Semtech Corporation in a report on Tuesday, June 13th. Royal Bank Of Canada restated a “hold” rating and issued a $39.00 target price on shares of Semtech Corporation in a report on Thursday, July 6th. Finally, Drexel Hamilton upped their target price on shares of Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, June 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Semtech Corporation has a consensus rating of “Buy” and a consensus target price of $43.50.
TRADEMARK VIOLATION WARNING: “” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.watchlistnews.com/1495278-2/1495278.html.
In related news, VP Emeka Chukwu sold 2,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $36.66, for a total transaction of $73,320.00. Following the completion of the sale, the vice president now owns 77,776 shares in the company, valued at approximately $2,851,268.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Asaf Silberstein sold 1,500 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $35.48, for a total transaction of $53,220.00. Following the sale, the senior vice president now owns 32,036 shares of the company’s stock, valued at approximately $1,136,637.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,503 shares of company stock valued at $3,293,518. 2.20% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Semtech Corporation by 49.7% in the second quarter. Public Employees Retirement System of Ohio now owns 167,926 shares of the semiconductor company’s stock worth $6,003,000 after buying an additional 55,714 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Semtech Corporation during the second quarter worth $508,000. Sterling Capital Management LLC acquired a new stake in shares of Semtech Corporation during the second quarter worth $1,457,000. CS Mckee LP boosted its stake in shares of Semtech Corporation by 0.3% in the second quarter. CS Mckee LP now owns 58,500 shares of the semiconductor company’s stock worth $2,091,000 after buying an additional 200 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Semtech Corporation by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock worth $1,781,000 after buying an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.
Semtech Corporation (NASDAQ SMTC) traded down 1.114% during midday trading on Wednesday, hitting $37.725. 173,117 shares of the stock traded hands. The company has a 50-day moving average price of $37.86 and a 200 day moving average price of $35.41. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 42.010 and a beta of 1.44. Semtech Corporation has a one year low of $22.81 and a one year high of $41.15.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Semtech Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.