Equities analysts expect Semtech Corporation (NASDAQ:SMTC) to announce $0.32 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Semtech Corporation’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.33. Semtech Corporation reported earnings of $0.29 per share during the same quarter last year, which would indicate a positive year over year growth rate of 10.3%. The firm is expected to announce its next quarterly earnings results on Wednesday, August 30th.
On average, analysts expect that Semtech Corporation will report full year earnings of $1.25 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.27. For the next year, analysts expect that the company will report earnings of $1.59 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Semtech Corporation.
Semtech Corporation (NASDAQ:SMTC) last issued its earnings results on Wednesday, May 31st. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Semtech Corporation had a net margin of 10.70% and a return on equity of 12.16%. The firm had revenue of $149.10 million during the quarter, compared to analysts’ expectations of $145.60 million. During the same quarter last year, the company posted $0.30 earnings per share. The firm’s revenue was up 13.7% compared to the same quarter last year.
SMTC has been the subject of a number of analyst reports. B. Riley restated a “buy” rating and set a $44.00 price objective on shares of Semtech Corporation in a research report on Sunday, May 21st. Zacks Investment Research upgraded shares of Semtech Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. DA Davidson raised their target price on shares of Semtech Corporation from $35.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, March 9th. Robert W. Baird restated an “outperform” rating and set a $45.00 target price on shares of Semtech Corporation in a report on Tuesday, June 13th. Finally, Drexel Hamilton restated a “buy” rating and set a $42.00 target price (up from $35.00) on shares of Semtech Corporation in a report on Thursday, March 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Semtech Corporation currently has an average rating of “Buy” and an average target price of $43.33.
Semtech Corporation (NASDAQ SMTC) opened at 34.725 on Wednesday. Semtech Corporation has a one year low of $22.65 and a one year high of $38.40. The stock has a market cap of $2.28 billion, a PE ratio of 38.669 and a beta of 1.42. The company’s 50 day moving average is $36.13 and its 200 day moving average is $34.09.
In related news, insider Charles B. Ammann sold 2,250 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $36.48, for a total value of $82,080.00. Following the sale, the insider now directly owns 14,905 shares of the company’s stock, valued at $543,734.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Michael Wilson sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $35.95, for a total transaction of $107,850.00. Following the completion of the sale, the senior vice president now directly owns 78,066 shares in the company, valued at $2,806,472.70. The disclosure for this sale can be found here. Insiders sold 64,838 shares of company stock worth $2,325,646 over the last three months. Corporate insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its position in Semtech Corporation by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 7,280 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 180 shares during the last quarter. Martingale Asset Management L P raised its position in Semtech Corporation by 0.3% in the first quarter. Martingale Asset Management L P now owns 67,624 shares of the semiconductor company’s stock valued at $2,286,000 after buying an additional 198 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Semtech Corporation by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the semiconductor company’s stock valued at $902,000 after buying an additional 300 shares during the last quarter. Chicago Equity Partners LLC raised its position in Semtech Corporation by 1.2% in the first quarter. Chicago Equity Partners LLC now owns 28,340 shares of the semiconductor company’s stock valued at $958,000 after buying an additional 340 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Semtech Corporation by 1.2% in the first quarter. Arizona State Retirement System now owns 34,242 shares of the semiconductor company’s stock valued at $1,157,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 93.97% of the company’s stock.
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Semtech Corporation Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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