Semtech (NASDAQ:SMTC – Get Free Report) posted its quarterly earnings results on Wednesday. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09, MarketWatch Earnings reports. The business had revenue of $238.37 million during the quarter, compared to analysts’ expectations of $237.37 million. Semtech had a negative net margin of 53.62% and a positive return on equity of 2.56%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company posted $0.71 earnings per share. Semtech updated its Q3 guidance to $(0.22)-(0.09) EPS and its Q3 2024 guidance to -$0.22–$0.09 EPS.
Semtech Stock Performance
NASDAQ:SMTC opened at $25.18 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.14 and a quick ratio of 1.46. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -3.67 and a beta of 1.70. The company’s 50-day moving average is $26.48 and its two-hundred day moving average is $24.92. Semtech has a 1-year low of $17.82 and a 1-year high of $35.18.
Hedge Funds Weigh In On Semtech
Several institutional investors and hedge funds have recently bought and sold shares of SMTC. Neo Ivy Capital Management acquired a new position in Semtech in the 2nd quarter valued at about $41,000. Quarry LP acquired a new position in Semtech in the 1st quarter valued at about $49,000. Captrust Financial Advisors boosted its holdings in Semtech by 186.5% in the 1st quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 664 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Semtech in the 1st quarter valued at about $84,000. Finally, Covestor Ltd boosted its holdings in Semtech by 123.9% in the 1st quarter. Covestor Ltd now owns 1,397 shares of the semiconductor company’s stock valued at $97,000 after purchasing an additional 773 shares during the last quarter.
Analyst Upgrades and Downgrades
Semtech Company Profile
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial 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.
- Five stocks we like better than Semtech
- How and Why to Invest in Oil Stocks
- 2 Wrecked Stocks Keeping Cars on the Road Ready for Repair
- How to Invest in Lithium and Lithium Stocks
- WeWork Stock Soars: Meme Stock Madness or Mirage?
- Stock Average Calculator
- Shutterstock is the Value Stock they don’t want you to know about
Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.