$153.67 Million in Sales Expected for Semtech Corporation (SMTC) This Quarter

Brokerages expect that Semtech Corporation (NASDAQ:SMTC) will report $153.67 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Semtech Corporation’s earnings, with estimates ranging from $149.00 million to $156.00 million. Semtech Corporation reported sales of $137.19 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, November 29th.

On average, analysts expect that Semtech Corporation will report full-year sales of $153.67 million for the current fiscal year, with estimates ranging from $592.31 million to $617.40 million. For the next year, analysts anticipate that the business will post sales of $673.53 million per share, with estimates ranging from $644.59 million to $697.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Semtech Corporation.

Semtech Corporation (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $153.10 million during the quarter, compared to analyst estimates of $154.91 million. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. Semtech Corporation’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS.

SMTC has been the subject of a number of analyst reports. BidaskClub lowered shares of Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. B. Riley restated a “buy” rating and set a $48.00 price objective on shares of Semtech Corporation in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $42.00 price objective on shares of Semtech Corporation in a research note on Sunday, August 27th. Drexel Hamilton restated a “buy” rating and set a $45.00 price objective on shares of Semtech Corporation in a research note on Thursday, August 31st. Finally, Zacks Investment Research lowered shares of Semtech Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $44.29.

In related news, Director Rockell N. Hankin sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $36.65, for a total value of $183,250.00. Following the transaction, the director now owns 154,940 shares of the company’s stock, valued at $5,678,551. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Asaf Silberstein sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $37.78, for a total transaction of $94,450.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,370 shares of company stock worth $2,636,446. Insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Semtech Corporation by 2.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after buying an additional 65 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Semtech Corporation by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the semiconductor company’s stock worth $958,000 after buying an additional 100 shares during the last quarter. Virginia Retirement Systems ET AL boosted its holdings in shares of Semtech Corporation by 1.0% in the second quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the semiconductor company’s stock worth $350,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Semtech Corporation by 2.4% in the second quarter. Nisa Investment Advisors LLC now owns 6,370 shares of the semiconductor company’s stock worth $228,000 after buying an additional 150 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Semtech Corporation by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock worth $1,781,000 after buying an additional 186 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.

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Shares of Semtech Corporation (SMTC) opened at $39.00 on Tuesday. The firm has a market cap of $2,558.58, a PE ratio of 35.14, a price-to-earnings-growth ratio of 6.28 and a beta of 1.48. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.83 and a current ratio of 3.42. Semtech Corporation has a 12 month low of $27.10 and a 12 month high of $41.95.

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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