Semtech (NASDAQ:SMTC) Updates Q1 Earnings Guidance

Semtech (NASDAQ:SMTC) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $(0.04)-$0.04 for the period, compared to the consensus EPS estimate of $0.02. The company issued revenue guidance of $195-205 million, compared to the consensus revenue estimate of $195.28 million.

Analysts Set New Price Targets

Several analysts have recently commented on SMTC shares. Roth Mkm reduced their price target on Semtech from $46.00 to $42.00 and set a buy rating for the company in a report on Thursday, December 7th. Needham & Company LLC reduced their price target on Semtech from $35.00 to $26.00 and set a buy rating for the company in a report on Thursday, December 7th. Stifel Nicolaus raised their price target on Semtech from $22.00 to $26.00 and gave the company a buy rating in a report on Tuesday, January 2nd. Susquehanna raised their price target on Semtech from $25.00 to $30.00 and gave the company a positive rating in a report on Thursday, March 14th. Finally, Robert W. Baird reaffirmed an outperform rating and set a $40.00 price objective on shares of Semtech in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Semtech presently has an average rating of Moderate Buy and a consensus price target of $33.10.

Semtech Price Performance

Shares of SMTC traded down $0.37 during trading hours on Thursday, hitting $27.49. 4,497,152 shares of the company were exchanged, compared to its average volume of 1,298,915. The company has a market capitalization of $1.77 billion, a PE ratio of -3.56, a PEG ratio of 14.68 and a beta of 1.81. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.39 and a quick ratio of 1.72. The firm has a fifty day simple moving average of $21.48 and a 200-day simple moving average of $20.40. Semtech has a one year low of $13.13 and a one year high of $32.44.

Institutional Trading of Semtech

Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Ethic Inc. increased its stake in shares of Semtech by 7.6% in the first quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock worth $315,000 after purchasing an additional 320 shares during the period. Zebra Capital Management LLC boosted its holdings in shares of Semtech by 10.5% in the 1st quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock worth $240,000 after acquiring an additional 327 shares in the last quarter. Credit Suisse AG boosted its holdings in shares of Semtech by 0.6% in the 4th quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock worth $1,773,000 after acquiring an additional 347 shares in the last quarter. Bridgefront Capital LLC raised its position in Semtech by 14.7% in the 1st quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 377 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Semtech by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock worth $660,000 after purchasing an additional 399 shares during the last quarter.

About Semtech

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.