Zacks: Analysts Anticipate Semtech Co. (NASDAQ:SMTC) Will Post Quarterly Sales of $199.79 Million

Equities analysts expect that Semtech Co. (NASDAQ:SMTCGet Rating) will announce $199.79 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Semtech’s earnings. The lowest sales estimate is $197.40 million and the highest is $202.00 million. Semtech reported sales of $170.37 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.3%. The company is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Semtech will report full-year sales of $840.04 million for the current financial year, with estimates ranging from $827.30 million to $852.70 million. For the next financial year, analysts forecast that the firm will post sales of $908.68 million, with estimates ranging from $895.70 million to $931.00 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Semtech.

Semtech (NASDAQ:SMTCGet Rating) last posted its earnings results on Wednesday, March 16th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.06. Semtech had a return on equity of 17.89% and a net margin of 16.96%. The business had revenue of $190.60 million during the quarter, compared to analyst estimates of $189.34 million. During the same quarter last year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year.

A number of brokerages have weighed in on SMTC. StockNews.com began coverage on Semtech in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company. Wells Fargo & Company lowered their price objective on Semtech from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, March 17th. Zacks Investment Research lowered Semtech from a “strong-buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research note on Tuesday. Susquehanna raised their price objective on Semtech from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, March 17th. Finally, Stifel Nicolaus lowered their price objective on Semtech from $102.00 to $95.00 in a research note on Thursday, March 17th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $81.55.

In related news, SVP Christopher H. Chang sold 6,950 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $70.57, for a total value of $490,461.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Michael Wilson sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $62.28, for a total value of $560,520.00. Following the completion of the sale, the executive vice president now directly owns 16,385 shares in the company, valued at approximately $1,020,457.80. The disclosure for this sale can be found here. In the last three months, insiders sold 44,950 shares of company stock worth $3,079,392. Company insiders own 1.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. US Bancorp DE raised its stake in Semtech by 24.3% during the 3rd quarter. US Bancorp DE now owns 28,069 shares of the semiconductor company’s stock valued at $2,188,000 after acquiring an additional 5,486 shares in the last quarter. Juncture Wealth Strategies LLC bought a new stake in Semtech during the 4th quarter valued at $261,000. California Public Employees Retirement System increased its position in shares of Semtech by 1.0% during the 4th quarter. California Public Employees Retirement System now owns 144,249 shares of the semiconductor company’s stock valued at $12,828,000 after purchasing an additional 1,409 shares during the period. Yousif Capital Management LLC acquired a new position in shares of Semtech during the 4th quarter valued at $2,977,000. Finally, Dupont Capital Management Corp increased its position in shares of Semtech by 11.4% during the 4th quarter. Dupont Capital Management Corp now owns 20,007 shares of the semiconductor company’s stock valued at $1,779,000 after purchasing an additional 2,048 shares during the period. 96.33% of the stock is currently owned by hedge funds and other institutional investors.

SMTC stock opened at $59.74 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.02 and a current ratio of 3.91. Semtech has a 1 year low of $56.00 and a 1 year high of $94.92. The firm has a market cap of $3.83 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 1.43 and a beta of 1.54. The stock has a 50-day simple moving average of $63.81 and a 200-day simple moving average of $74.54.

Semtech Company Profile (Get Rating)

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.

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Earnings History and Estimates for Semtech (NASDAQ:SMTC)

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