Brokerages Anticipate Semtech Co. (NASDAQ:SMTC) Will Post Earnings of $0.69 Per Share

Equities analysts expect Semtech Co. (NASDAQ:SMTC) to report earnings per share (EPS) of $0.69 for the current quarter, according to Zacks. Five analysts have provided estimates for Semtech’s earnings. Semtech posted earnings of $0.51 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 35.3%. The business is expected to report its next earnings report on Wednesday, March 16th.

According to Zacks, analysts expect that Semtech will report full-year earnings of $2.61 per share for the current financial year, with EPS estimates ranging from $2.60 to $2.62. For the next fiscal year, analysts expect that the business will report earnings of $3.13 per share, with EPS estimates ranging from $3.04 to $3.27. Zacks’ EPS calculations are an average based on a survey of research firms that follow Semtech.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, December 1st. The semiconductor company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $194.93 million during the quarter, compared to analyst estimates of $192.92 million. Semtech had a net margin of 14.90% and a return on equity of 15.97%. During the same period in the prior year, the firm earned $0.31 earnings per share.

A number of analysts have recently issued reports on SMTC shares. Zacks Investment Research lowered shares of Semtech from a “buy” rating to a “sell” rating and set a $92.00 price target for the company. in a research report on Tuesday, November 2nd. Piper Sandler increased their price objective on Semtech from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, December 2nd. Susquehanna Bancshares increased their price objective on Semtech from $75.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, December 2nd. Oppenheimer increased their price objective on Semtech from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 22nd. Finally, Susquehanna increased their price objective on Semtech from $75.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, December 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Semtech has a consensus rating of “Buy” and a consensus price target of $86.45.

In other Semtech news, EVP Asaf Silberstein sold 1,000 shares of Semtech stock in a transaction on Friday, January 14th. The stock was sold at an average price of $80.50, for a total transaction of $80,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alistair Fulton sold 1,200 shares of Semtech stock in a transaction on Thursday, January 13th. The shares were sold at an average price of $81.83, for a total value of $98,196.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,691 shares of company stock valued at $2,523,409. 1.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Diversified Trust Co bought a new position in shares of Semtech in the fourth quarter valued at about $1,013,000. Crossmark Global Holdings Inc. raised its holdings in shares of Semtech by 15.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 5,280 shares of the semiconductor company’s stock valued at $470,000 after buying an additional 700 shares during the last quarter. Fulton Bank N.A. bought a new position in shares of Semtech in the fourth quarter valued at about $203,000. UBS Asset Management Americas Inc. raised its holdings in shares of Semtech by 4.8% in the third quarter. UBS Asset Management Americas Inc. now owns 86,181 shares of the semiconductor company’s stock valued at $6,720,000 after buying an additional 3,968 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Semtech by 4.8% in the third quarter. Bank of New York Mellon Corp now owns 3,187,371 shares of the semiconductor company’s stock valued at $248,519,000 after buying an additional 147,434 shares during the last quarter. 95.88% of the stock is owned by institutional investors.

NASDAQ SMTC opened at $80.36 on Friday. The company has a 50 day simple moving average of $87.24 and a 200-day simple moving average of $76.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.01 and a quick ratio of 3.16. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 49.30, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Semtech has a 52-week low of $57.97 and a 52-week high of $94.92.

About Semtech

Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.

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