Semtech (NASDAQ:SMTC) Posts Earnings Results, Beats Expectations By $0.01 EPS

Semtech (NASDAQ:SMTC) posted its quarterly earnings data on Wednesday. The semiconductor company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01, reports. The firm had revenue of $141.00 million during the quarter, compared to the consensus estimate of $140.15 million. Semtech had a return on equity of 12.91% and a net margin of 7.34%. The firm’s revenue was down 18.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. Semtech updated its Q4 2020
After-Hours guidance to 0.33-0.39 EPS and its Q4 guidance to $0.33-0.39 EPS.

Shares of SMTC stock opened at $46.79 on Thursday. The company’s 50-day moving average price is $50.61 and its 200-day moving average price is $47.57. The company has a current ratio of 4.10, a quick ratio of 3.42 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 3.92 and a beta of 1.91. Semtech has a twelve month low of $39.54 and a twelve month high of $57.96.

A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Semtech from a “buy” rating to a “strong-buy” rating in a report on Friday, November 29th. B. Riley decreased their price target on shares of Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Craig Hallum decreased their price target on shares of Semtech from $9.00 to $6.00 in a research note on Monday, September 23rd. Wells Fargo & Co restated an “outperform” rating and set a $55.00 price target (down from $60.00) on shares of Semtech in a research report on Thursday. Finally, BidaskClub cut shares of Semtech from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Semtech presently has a consensus rating of “Buy” and a consensus price target of $48.18.

In related news, VP Alisair Fulton sold 709 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $49.38, for a total value of $35,010.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sylvia Summers sold 6,487 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.31, for a total value of $300,412.97. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $926,200. The disclosure for this sale can be found here. Insiders sold 25,717 shares of company stock valued at $1,262,791 in the last three months. 1.96% of the stock is currently owned by insiders.

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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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Earnings History for Semtech (NASDAQ:SMTC)

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