Semtech (NASDAQ:SMTC) Releases Q2 Earnings Guidance

Semtech (NASDAQ:SMTC) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.06-0.12 for the period, compared to the consensus estimate of $0.10. The company issued revenue guidance of $207-217 million, compared to the consensus revenue estimate of $212.42 million.

Analyst Ratings Changes

SMTC has been the subject of several research analyst reports. Northland Securities upped their price target on shares of Semtech from $36.50 to $46.00 and gave the stock an outperform rating in a research report on Thursday, June 6th. Oppenheimer restated a market perform rating on shares of Semtech in a research report on Monday, April 1st. Piper Sandler restated an overweight rating and set a $60.00 price target (up previously from $40.00) on shares of Semtech in a research report on Wednesday, May 29th. Susquehanna upped their price target on shares of Semtech from $45.00 to $55.00 and gave the stock a positive rating in a research report on Thursday, June 6th. Finally, Stifel Nicolaus upped their price target on shares of Semtech from $43.00 to $50.00 and gave the stock a buy rating in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Semtech presently has an average rating of Moderate Buy and an average price target of $48.90.

Semtech Stock Performance

NASDAQ:SMTC opened at $35.86 on Monday. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.74 and a current ratio of 2.40. The stock has a market capitalization of $2.32 billion, a P/E ratio of -2.12 and a beta of 1.55. The company has a 50 day moving average price of $35.32 and a 200 day moving average price of $28.49. Semtech has a fifty-two week low of $13.13 and a fifty-two week high of $46.86.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). The firm had revenue of $206.11 million during the quarter, compared to analysts’ expectations of $200.16 million. Semtech had a negative net margin of 129.52% and a negative return on equity of 154.99%. Equities research analysts forecast that Semtech will post -0.03 EPS for the current year.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It 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.