Analysts forecast that Semtech Co. (NASDAQ:SMTC) will post sales of $130.80 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Semtech’s earnings, with the highest sales estimate coming in at $132.10 million and the lowest estimate coming in at $130.00 million. Semtech reported sales of $130.43 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.3%. The firm is expected to report its next quarterly earnings report on Wednesday, May 29th.

According to Zacks, analysts expect that Semtech will report full year sales of $602.02 million for the current year, with estimates ranging from $575.00 million to $627.70 million. For the next financial year, analysts forecast that the firm will post sales of $696.81 million, with estimates ranging from $643.11 million to $747.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Semtech.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $160.00 million during the quarter, compared to analysts’ expectations of $158.48 million. Semtech had a return on equity of 13.94% and a net margin of 10.05%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS.

A number of equities research analysts recently weighed in on SMTC shares. BidaskClub upgraded Semtech from a “sell” rating to a “hold” rating in a research note on Wednesday, November 28th. B. Riley upped their price objective on Semtech from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. ValuEngine upgraded Semtech from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 22nd. Zacks Investment Research upgraded Semtech from a “sell” rating to a “hold” rating in a research note on Friday, February 1st. Finally, Susquehanna Bancshares assumed coverage on Semtech in a research report on Friday, December 7th. They set a “neutral” rating and a $54.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $59.00.

Shares of NASDAQ SMTC opened at $52.94 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.74 and a quick ratio of 3.25. The firm has a market cap of $3.48 billion, a P/E ratio of 39.80, a P/E/G ratio of 3.46 and a beta of 1.67. Semtech has a 1-year low of $37.60 and a 1-year high of $60.55.

In related news, SVP Sharon K. Faltemier sold 20,000 shares of the company’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $45.53, for a total transaction of $910,600.00. Following the transaction, the senior vice president now directly owns 33,386 shares of the company’s stock, valued at approximately $1,520,064.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Michael Wilson sold 5,000 shares of the company’s stock in a transaction dated Monday, December 31st. The shares were sold at an average price of $45.52, for a total value of $227,600.00. Following the transaction, the executive vice president now directly owns 77,419 shares in the company, valued at $3,524,112.88. The disclosure for this sale can be found here. Insiders have sold a total of 134,114 shares of company stock worth $6,970,870 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in SMTC. BlackRock Inc. increased its holdings in shares of Semtech by 4.0% in the third quarter. BlackRock Inc. now owns 9,497,991 shares of the semiconductor company’s stock valued at $528,088,000 after purchasing an additional 363,609 shares during the period. Vanguard Group Inc. increased its holdings in shares of Semtech by 1.8% in the third quarter. Vanguard Group Inc. now owns 6,807,219 shares of the semiconductor company’s stock valued at $378,481,000 after purchasing an additional 122,945 shares during the period. Vanguard Group Inc increased its holdings in shares of Semtech by 1.8% in the third quarter. Vanguard Group Inc now owns 6,807,219 shares of the semiconductor company’s stock valued at $378,481,000 after purchasing an additional 122,945 shares during the period. Frontier Capital Management Co. LLC increased its holdings in shares of Semtech by 2.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 4,449,502 shares of the semiconductor company’s stock valued at $204,099,000 after purchasing an additional 89,194 shares during the period. Finally, FMR LLC increased its holdings in shares of Semtech by 16.2% in the fourth quarter. FMR LLC now owns 4,114,152 shares of the semiconductor company’s stock valued at $188,717,000 after purchasing an additional 573,087 shares during the period. 98.13% of the stock is currently owned by institutional investors.

About Semtech

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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