$150.38 Million in Sales Expected for Semtech (SMTC) This Quarter

Analysts predict that Semtech (NASDAQ:SMTC) will announce sales of $150.38 million for the current quarter, according to Zacks. Five analysts have made estimates for Semtech’s earnings, with the highest sales estimate coming in at $152.16 million and the lowest estimate coming in at $149.20 million. Semtech reported sales of $143.80 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.6%. The firm is scheduled to report its next quarterly earnings report on Wednesday, May 30th.

According to Zacks, analysts expect that Semtech will report full year sales of $657.87 million for the current year, with estimates ranging from $644.00 million to $680.10 million. For the next year, analysts forecast that the business will report sales of $726.84 million per share, with estimates ranging from $709.00 million to $757.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Semtech.

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Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, March 14th. The semiconductor company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Semtech had a net margin of 6.20% and a return on equity of 13.34%. The firm had revenue of $142.11 million for the quarter, compared to analysts’ expectations of $140.49 million. During the same period in the previous year, the business earned $0.37 earnings per share. Semtech’s revenue for the quarter was up .2% compared to the same quarter last year.



Several equities research analysts have commented on the stock. Piper Jaffray upgraded shares of Semtech from a “neutral” rating to an “overweight” rating and set a $35.00 price target on the stock in a research report on Wednesday, April 4th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Semtech in a research report on Friday, March 23rd. BidaskClub upgraded shares of Semtech from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. ValuEngine upgraded Semtech from a “hold” rating to a “buy” rating in a report on Tuesday, March 20th. Finally, Royal Bank of Canada boosted their price objective on Semtech to $39.00 and gave the stock a “market perform” rating in a report on Thursday, March 15th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Semtech currently has a consensus rating of “Buy” and an average price target of $43.44.

Shares of Semtech stock opened at $42.15 on Tuesday. The company has a current ratio of 3.65, a quick ratio of 3.09 and a debt-to-equity ratio of 0.32. Semtech has a 52 week low of $31.30 and a 52 week high of $44.85. The stock has a market capitalization of $2,843.78, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 7.43 and a beta of 1.18.

In other news, SVP James Jungsup Kim sold 13,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $34.79, for a total value of $452,270.00. Following the transaction, the senior vice president now owns 54,612 shares in the company, valued at approximately $1,899,951.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mohan Maheswaran sold 22,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.63, for a total value of $717,860.00. Following the completion of the transaction, the insider now owns 196,872 shares in the company, valued at approximately $6,423,933.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,963 shares of company stock worth $5,197,093. Corporate insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SMTC. Stifel Financial Corp acquired a new position in shares of Semtech in the 3rd quarter valued at about $209,000. Xact Kapitalforvaltning AB acquired a new position in shares of Semtech in the 4th quarter valued at about $215,000. Elkfork Partners LLC acquired a new position in shares of Semtech in the 4th quarter valued at about $215,000. Suntrust Banks Inc. acquired a new position in shares of Semtech in the 4th quarter valued at about $237,000. Finally, First Republic Investment Management Inc. acquired a new position in shares of Semtech in the 4th quarter valued at about $249,000. Institutional investors own 97.43% of the company’s stock.

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Semtech Company Profile

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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