$161.38 Million in Sales Expected for Semtech Co. (SMTC) This Quarter

Equities research analysts predict that Semtech Co. (NASDAQ:SMTC) will announce sales of $161.38 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Semtech’s earnings. The highest sales estimate is $163.66 million and the lowest is $159.80 million. Semtech reported sales of $153.13 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.4%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 29th.

According to Zacks, analysts expect that Semtech will report full-year sales of $658.52 million for the current financial year, with estimates ranging from $645.47 million to $685.17 million. For the next fiscal year, analysts anticipate that the company will post sales of $727.46 million per share, with estimates ranging from $710.53 million to $760.60 million. Zacks’ sales averages are an average based on a survey of analysts that cover Semtech.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, May 30th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Semtech had a return on equity of 12.05% and a net margin of 6.44%. The firm had revenue of $151.90 million for the quarter, compared to the consensus estimate of $150.33 million. During the same quarter in the prior year, the business earned $0.44 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year.

SMTC has been the topic of a number of analyst reports. Stifel Nicolaus initiated coverage on Semtech in a research note on Friday, July 20th. They issued a “buy” rating and a $60.00 price target on the stock. Loop Capital initiated coverage on Semtech in a research note on Thursday, June 21st. They issued a “buy” rating and a $60.00 price target on the stock. BidaskClub downgraded Semtech from a “hold” rating to a “sell” rating in a research note on Saturday, April 28th. BWS Financial increased their price target on Semtech from $40.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, June 21st. Finally, Roth Capital increased their price target on Semtech from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, May 31st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Semtech has a consensus rating of “Buy” and an average target price of $54.10.

Semtech traded down $1.45, hitting $49.90, during trading hours on Tuesday, MarketBeat Ratings reports. 295,430 shares of the stock were exchanged, compared to its average volume of 282,501. Semtech has a twelve month low of $31.30 and a twelve month high of $51.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.51 and a current ratio of 4.09. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 35.64, a P/E/G ratio of 9.07 and a beta of 1.37.

In related news, EVP Gary Beauchamp sold 24,029 shares of the firm’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $46.87, for a total transaction of $1,126,239.23. Following the sale, the executive vice president now owns 24,029 shares of the company’s stock, valued at approximately $1,126,239.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohan Maheswaran sold 2,500 shares of the firm’s stock in a transaction on Friday, July 13th. The stock was sold at an average price of $50.12, for a total value of $125,300.00. Following the sale, the insider now directly owns 144,965 shares in the company, valued at approximately $7,265,645.80. The disclosure for this sale can be found here. In the last three months, insiders sold 313,953 shares of company stock worth $15,542,192. 2.30% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Deutsche Bank AG raised its stake in Semtech by 33.4% during the 4th quarter. Deutsche Bank AG now owns 176,631 shares of the semiconductor company’s stock worth $6,038,000 after buying an additional 44,199 shares during the period. Profund Advisors LLC raised its stake in Semtech by 10.0% during the 1st quarter. Profund Advisors LLC now owns 28,082 shares of the semiconductor company’s stock worth $1,097,000 after buying an additional 2,547 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Semtech by 8.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 392,429 shares of the semiconductor company’s stock worth $15,325,000 after buying an additional 31,804 shares during the period. MetLife Investment Advisors LLC acquired a new stake in Semtech during the 4th quarter worth $1,015,000. Finally, Northern Trust Corp raised its stake in Semtech by 1.5% during the 1st quarter. Northern Trust Corp now owns 972,135 shares of the semiconductor company’s stock worth $37,963,000 after buying an additional 14,727 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

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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