Brokerages expect that Semtech Co. (NASDAQ:SMTC) will report $0.36 earnings per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Semtech’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.34. Semtech reported earnings per share of $0.55 during the same quarter last year, which indicates a negative year over year growth rate of 34.5%. The business is scheduled to report its next earnings report on Wednesday, September 4th.
On average, analysts expect that Semtech will report full year earnings of $1.71 per share for the current year, with EPS estimates ranging from $1.50 to $1.86. For the next fiscal year, analysts anticipate that the business will report earnings of $2.18 per share, with EPS estimates ranging from $1.80 to $2.59. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Semtech.
Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, May 29th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.16. The company had revenue of $131.40 million for the quarter, compared to analysts’ expectations of $130.40 million. Semtech had a return on equity of 14.05% and a net margin of 10.18%. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS.
Several equities research analysts have recently commented on SMTC shares. Wells Fargo & Co started coverage on Semtech in a research note on Tuesday, May 14th. They set an “outperform” rating and a $48.03 price target on the stock. Cowen started coverage on Littelfuse in a research note on Tuesday, May 21st. They set an “outperform” rating and a $210.00 price target on the stock. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Zacks Investment Research lowered Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Finally, Oppenheimer decreased their price target on Semtech from $60.00 to $52.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Semtech has an average rating of “Buy” and a consensus price target of $55.00.
In related news, VP Alisair Fulton sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $49.38, for a total value of $74,070.00. Following the sale, the vice president now owns 382 shares of the company’s stock, valued at approximately $18,863.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Sharon K. Faltemier sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $48.84, for a total value of $195,360.00. Following the completion of the sale, the senior vice president now directly owns 33,276 shares in the company, valued at approximately $1,625,199.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,233 shares of company stock worth $4,533,021. 1.96% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Oakbrook Investments LLC purchased a new position in Semtech in the 2nd quarter valued at about $211,000. Oregon Public Employees Retirement Fund boosted its stake in Semtech by 4.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,605 shares of the semiconductor company’s stock worth $1,278,000 after purchasing an additional 1,118 shares during the period. Legacy Bridge LLC boosted its stake in Semtech by 58.0% in the 2nd quarter. Legacy Bridge LLC now owns 8,175 shares of the semiconductor company’s stock worth $393,000 after purchasing an additional 3,000 shares during the period. Scout Investments Inc. boosted its stake in Semtech by 65.1% in the 2nd quarter. Scout Investments Inc. now owns 248,237 shares of the semiconductor company’s stock worth $11,928,000 after purchasing an additional 97,847 shares during the period. Finally, Retirement Systems of Alabama acquired a new position in Semtech in the 2nd quarter worth approximately $12,456,000. 96.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:SMTC traded down $0.68 during trading on Tuesday, hitting $49.28. 329,618 shares of the stock were exchanged, compared to its average volume of 550,646. The company has a fifty day simple moving average of $46.02. The company has a market capitalization of $3.29 billion, a P/E ratio of 37.05, a PEG ratio of 3.57 and a beta of 1.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 4.42. Semtech has a 12-month low of $39.54 and a 12-month high of $60.55.
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, and communications 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.
See Also: What is the cash asset ratio?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.