Zacks: Analysts Anticipate Semtech Co. (SMTC) Will Post Earnings of $0.34 Per Share

Analysts forecast that Semtech Co. (NASDAQ:SMTC) will announce earnings per share (EPS) of $0.34 for the current quarter, according to Zacks. Seven analysts have issued estimates for Semtech’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.36. Semtech reported earnings of $0.47 per share during the same quarter last year, which would indicate a negative year over year growth rate of 27.7%. The business is expected to announce its next quarterly earnings results on Wednesday, May 29th.

According to Zacks, analysts expect that Semtech will report full year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.66 to $2.11. For the next financial year, analysts expect that the company will report earnings of $2.41 per share, with EPS estimates ranging from $2.10 to $2.78. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Semtech.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. The business had revenue of $160.00 million during the quarter, compared to the consensus estimate of $158.48 million. Semtech had a net margin of 10.05% and a return on equity of 13.94%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS.

Several equities analysts have weighed in on SMTC shares. Zacks Investment Research upgraded shares of Semtech from a “sell” rating to a “hold” rating in a report on Friday, February 1st. ValuEngine upgraded shares of Semtech from a “buy” rating to a “strong-buy” rating in a report on Friday, February 22nd. BidaskClub upgraded shares of Semtech from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. B. Riley lifted their price target on shares of Semtech from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Finally, Roth Capital downgraded shares of Semtech from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $59.00.

In other Semtech news, CFO Emeka Chukwu sold 1,100 shares of the business’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $51.00, for a total transaction of $56,100.00. Following the completion of the sale, the chief financial officer now owns 84,930 shares in the company, valued at $4,331,430. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Asaf Silberstein sold 1,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $53.19, for a total transaction of $53,190.00. Following the sale, the executive vice president now owns 54,133 shares of the company’s stock, valued at approximately $2,879,334.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,614 shares of company stock valued at $6,664,320. 2.30% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Semtech by 1.8% during the third quarter. Vanguard Group Inc. now owns 6,807,219 shares of the semiconductor company’s stock valued at $378,481,000 after purchasing an additional 122,945 shares during the last quarter. Vanguard Group Inc increased its stake in Semtech by 1.8% during the third quarter. Vanguard Group Inc now owns 6,807,219 shares of the semiconductor company’s stock valued at $378,481,000 after purchasing an additional 122,945 shares during the last quarter. Frontier Capital Management Co. LLC increased its stake in Semtech by 2.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 4,449,502 shares of the semiconductor company’s stock valued at $204,099,000 after purchasing an additional 89,194 shares during the last quarter. FMR LLC increased its stake in Semtech by 16.2% during the fourth quarter. FMR LLC now owns 4,114,152 shares of the semiconductor company’s stock valued at $188,717,000 after purchasing an additional 573,087 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Semtech by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,313,492 shares of the semiconductor company’s stock valued at $106,120,000 after purchasing an additional 13,733 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Shares of SMTC opened at $54.25 on Monday. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.61 billion, a PE ratio of 40.79, a P/E/G ratio of 3.47 and a beta of 1.66. Semtech has a 52-week low of $38.95 and a 52-week high of $60.55.

About Semtech

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.

Further Reading: What is a balanced fund?

Get a free copy of the Zacks research report on Semtech (SMTC)

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.