Semtech Co. (SMTC) Expected to Post Quarterly Sales of $130.80 Million

Wall Street analysts forecast that Semtech Co. (NASDAQ:SMTC) will report sales of $130.80 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Semtech’s earnings. The lowest sales estimate is $130.00 million and the highest is $132.10 million. Semtech posted sales of $130.43 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.3%. The firm is expected to report its next quarterly earnings results on Wednesday, May 29th.

On average, analysts expect that Semtech will report full year sales of $602.02 million for the current year, with estimates ranging from $575.00 million to $627.70 million. For the next fiscal year, analysts forecast that the business will post sales of $696.81 million, with estimates ranging from $643.11 million to $747.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Semtech.

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

SMTC has been the subject of a number of recent research reports. Loop Capital upgraded Semtech to a “buy” rating in a report on Monday, March 18th. ValuEngine downgraded Semtech from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. B. Riley increased their price target on Semtech from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. BidaskClub upgraded Semtech from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. Finally, Zacks Investment Research upgraded Semtech from a “sell” rating to a “hold” rating in a report on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $59.00.

NASDAQ SMTC traded up $0.47 on Monday, reaching $50.91. The company had a trading volume of 423,788 shares, compared to its average volume of 693,597. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 3.30 and a beta of 1.67. Semtech has a fifty-two week low of $37.60 and a fifty-two week high of $60.55. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28.

In related news, EVP John Michael Wilson sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 31st. The shares were sold at an average price of $45.52, for a total value of $227,600.00. Following the transaction, the executive vice president now owns 77,419 shares of the company’s stock, valued at approximately $3,524,112.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Emeka Chukwu sold 1,100 shares of the firm’s stock in a transaction dated Friday, January 11th. The shares were sold at an average price of $51.00, for a total transaction of $56,100.00. Following the completion of the transaction, the chief financial officer now directly owns 86,030 shares in the company, valued at approximately $4,387,530. The disclosure for this sale can be found here. In the last ninety days, insiders sold 159,114 shares of company stock worth $8,282,870. 2.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue lifted its position in shares of Semtech by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 22,005 shares of the semiconductor company’s stock worth $1,009,000 after buying an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Semtech by 6.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,757 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 279 shares during the period. Miles Capital Inc. raised its holdings in shares of Semtech by 5.5% in the 4th quarter. Miles Capital Inc. now owns 5,527 shares of the semiconductor company’s stock worth $254,000 after purchasing an additional 286 shares during the period. IFP Advisors Inc raised its holdings in shares of Semtech by 44.7% in the 4th quarter. IFP Advisors Inc now owns 1,010 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 312 shares during the period. Finally, Piedmont Investment Advisors Inc. raised its holdings in shares of Semtech by 2.7% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 15,648 shares of the semiconductor company’s stock worth $718,000 after purchasing an additional 415 shares during the period. 99.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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