Semtech Co. (SMTC) Expected to Announce Earnings of $0.34 Per Share

Brokerages predict that Semtech Co. (NASDAQ:SMTC) will post $0.34 earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Semtech’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.32. Semtech reported earnings of $0.47 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 27.7%. The business is expected to report its next 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 fiscal year, analysts anticipate that the business will report earnings of $2.41 per share, with EPS estimates ranging from $2.10 to $2.78. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Semtech.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, March 13th. The semiconductor company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Semtech had a net margin of 10.05% and a return on equity of 13.94%. The business had revenue of $160.00 million during the quarter, compared to analysts’ expectations of $158.48 million. During the same period last year, the company posted $0.42 EPS. The business’s revenue was up 13.8% on a year-over-year basis.

A number of equities analysts recently commented on SMTC shares. 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 research note on Wednesday, February 27th. ValuEngine raised shares of Semtech from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 22nd. Zacks Investment Research raised shares of Semtech from a “sell” rating to a “hold” rating in a research note on Friday, February 1st. Susquehanna Bancshares started coverage on shares of Semtech in a research note on Friday, December 7th. They set a “neutral” rating and a $54.00 price target for the company. Finally, BidaskClub cut shares of Semtech from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $59.00.

Shares of SMTC stock traded up $0.47 during trading hours on Friday, reaching $50.91. 423,788 shares of the stock were exchanged, compared to its average volume of 693,597. Semtech has a 12-month low of $37.60 and a 12-month high of $60.55. The company has a current ratio of 3.74, a quick ratio of 3.25 and a debt-to-equity ratio of 0.28. The stock has a market cap of $3.36 billion, a PE ratio of 38.28, a P/E/G ratio of 3.30 and a beta of 1.67.

In other Semtech news, Director Ye Jane Li sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $54.97, for a total transaction of $274,850.00. Following the sale, the director now owns 7,328 shares of the company’s stock, valued at approximately $402,820.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Sharon K. Faltemier sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $45.53, for a total transaction of $910,600.00. Following the sale, the senior vice president now directly owns 33,386 shares in the company, valued at approximately $1,520,064.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,114 shares of company stock valued at $8,282,870. Company insiders own 2.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Semtech by 4.0% during the 3rd quarter. BlackRock Inc. now owns 9,497,991 shares of the semiconductor company’s stock worth $528,088,000 after purchasing an additional 363,609 shares during the last quarter. Vanguard Group Inc. grew its position in Semtech by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,807,219 shares of the semiconductor company’s stock worth $378,481,000 after purchasing an additional 122,945 shares during the last quarter. Vanguard Group Inc grew its position in Semtech by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 6,807,219 shares of the semiconductor company’s stock worth $378,481,000 after purchasing an additional 122,945 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in Semtech by 2.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 4,449,502 shares of the semiconductor company’s stock worth $204,099,000 after purchasing an additional 89,194 shares during the last quarter. Finally, FMR LLC grew its position in Semtech by 16.2% during the 4th quarter. FMR LLC now owns 4,114,152 shares of the semiconductor company’s stock worth $188,717,000 after purchasing an additional 573,087 shares during the last quarter. 99.46% of the stock is currently owned by institutional investors.

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, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

Recommended Story: Cost of equity and a company’s balance sheet

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.