Semtech (NASDAQ:SMTC – Get Free Report) 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.
Check Out Our Latest Stock Analysis on SMTC
Semtech Stock Performance
Semtech (NASDAQ:SMTC – Get Free Report) 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.
Read More
- Five stocks we like better than Semtech
- What is a SEC Filing?
- Positive News is Driving This Cancer Drug Maker’s Stock Higher
- 5 Top Rated Dividend Stocks to Consider
- Top 3 Defense Stocks That Should Be on Your Radar
- Compound Interest and Why It Matters When Investing
- Why This Banking Stock Might Be Nearing the Bottom of Its Cycle
Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.