Semtech (SMTC) Releases Earnings Results, Beats Expectations By $0.02 EPS

Semtech (NASDAQ:SMTC) announced its quarterly earnings data on Wednesday. The semiconductor company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02, RTT News reports. Semtech had a net margin of 7.97% and a return on equity of 14.23%. The business had revenue of $160.00 million during the quarter, compared to the consensus estimate of $158.48 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. Semtech updated its Q1 2020 guidance to $0.30-0.36 EPS and its Q1 guidance to $0.30-0.36 EPS.

Semtech stock opened at $51.98 on Friday. The company has a quick ratio of 3.53, a current ratio of 4.03 and a debt-to-equity ratio of 0.28. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 2.44 and a beta of 1.67. Semtech has a 52-week low of $37.60 and a 52-week high of $60.55.

SMTC has been the subject of a number of recent research reports. Zacks Investment Research reaffirmed a “hold” rating on shares of Semtech in a research report on Thursday, November 15th. BidaskClub raised shares of Semtech from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Piper Jaffray Companies boosted their price objective on shares of Semtech from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, November 29th. B. Riley reissued a “buy” rating and set a $61.00 target price (up from $58.00) on shares of Semtech in a research note on Thursday, November 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $55.00 target price on shares of Semtech in a research note on Thursday, November 29th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $59.00.

In other news, CFO Emeka Chukwu sold 1,100 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $54.97, for a total value of $60,467.00. Following the completion of the sale, the chief financial officer now directly owns 98,297 shares of the company’s stock, valued at approximately $5,403,386.09. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James Jungsup Kim sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $57.37, for a total transaction of $143,425.00. Following the completion of the sale, the senior vice president now directly owns 41,375 shares of the company’s stock, valued at $2,373,683.75. The disclosure for this sale can be found here. Insiders have sold a total of 52,300 shares of company stock valued at $2,516,512 over the last three months. 2.30% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Pearl River Capital LLC acquired a new stake in shares of Semtech in the 4th quarter worth approximately $25,000. Cutler Group LP acquired a new stake in shares of Semtech in the 4th quarter worth approximately $27,000. Enlightenment Research LLC acquired a new stake in shares of Semtech in the 4th quarter worth approximately $28,000. IFP Advisors Inc lifted its stake 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 acquiring an additional 312 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Semtech in the 4th quarter worth approximately $60,000. 98.14% of the stock is owned by institutional investors.

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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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Earnings History for Semtech (NASDAQ:SMTC)

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