$0.52 EPS Expected for Semtech Co. (NASDAQ:SMTC) This Quarter

Analysts expect Semtech Co. (NASDAQ:SMTC) to announce earnings of $0.52 per share for the current quarter, Zacks reports. Six analysts have provided estimates for Semtech’s earnings. Semtech posted earnings of $0.35 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 48.6%. The business is scheduled to report its next earnings results on Wednesday, May 26th.

According to Zacks, analysts expect that Semtech will report full year earnings of $2.37 per share for the current financial year, with EPS estimates ranging from $2.24 to $2.55. For the next financial year, analysts forecast that the firm will report earnings of $2.76 per share, with EPS estimates ranging from $2.52 to $3.00. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Semtech.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Tuesday, March 16th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The firm had revenue of $164.70 million during the quarter, compared to the consensus estimate of $158.24 million. Semtech had a net margin of 8.30% and a return on equity of 9.60%. The company’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share.

Several equities analysts have commented on the stock. Needham & Company LLC raised their price target on shares of Semtech from $80.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, March 24th. Wells Fargo & Company boosted their price objective on shares of Semtech from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 24th. Royal Bank of Canada lifted their target price on shares of Semtech from $72.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 24th. B. Riley upped their price target on shares of Semtech from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, March 24th. Finally, Susquehanna upped their target price on shares of Semtech from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, March 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $74.93.

In other Semtech news, SVP Christopher H. Chang sold 7,670 shares of the stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $73.73, for a total value of $565,509.10. Following the completion of the transaction, the senior vice president now directly owns 20,433 shares in the company, valued at $1,506,525.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Emeka Chukwu sold 3,000 shares of the stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $76.75, for a total value of $230,250.00. Following the completion of the transaction, the chief financial officer now owns 92,005 shares of the company’s stock, valued at $7,061,383.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,500 shares of company stock worth $1,493,976. Insiders own 1.79% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Guggenheim Capital LLC increased its holdings in Semtech by 14.0% in the first quarter. Guggenheim Capital LLC now owns 10,482 shares of the semiconductor company’s stock worth $723,000 after purchasing an additional 1,289 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Semtech by 48.6% during the first quarter. Franklin Resources Inc. now owns 2,014,916 shares of the semiconductor company’s stock worth $139,029,000 after acquiring an additional 658,570 shares during the period. SG Americas Securities LLC lifted its holdings in Semtech by 400.5% during the first quarter. SG Americas Securities LLC now owns 49,931 shares of the semiconductor company’s stock worth $3,445,000 after acquiring an additional 39,954 shares during the period. AlphaCrest Capital Management LLC raised its stake in shares of Semtech by 31.1% in the first quarter. AlphaCrest Capital Management LLC now owns 7,784 shares of the semiconductor company’s stock valued at $537,000 after buying an additional 1,848 shares during the period. Finally, Penn Capital Management Co. Inc. raised its stake in shares of Semtech by 49.9% during the 1st quarter. Penn Capital Management Co. Inc. now owns 126,312 shares of the semiconductor company’s stock valued at $8,716,000 after purchasing an additional 42,024 shares during the period. Institutional investors and hedge funds own 97.14% of the company’s stock.

Shares of SMTC traded up $1.61 during mid-day trading on Thursday, hitting $60.26. 417,058 shares of the company were exchanged, compared to its average volume of 355,271. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 84.87, a price-to-earnings-growth ratio of 5.59 and a beta of 1.66. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.49 and a current ratio of 4.23. Semtech has a 1-year low of $40.81 and a 1-year high of $83.94. The company has a 50 day moving average of $68.28 and a 200-day moving average of $70.30.

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 infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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Earnings History and Estimates for Semtech (NASDAQ:SMTC)

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