Semtech (SMTC) Scheduled to Post Quarterly Earnings on Wednesday

Semtech (NASDAQ:SMTCGet Rating) is scheduled to post its quarterly earnings results after the market closes on Wednesday, June 1st. Analysts expect Semtech to post earnings of $0.76 per share for the quarter. Semtech has set its Q1 2023 guidance at $0.720-$0.800 EPS and its Q1 guidance at $0.72-$0.80 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Semtech (NASDAQ:SMTCGet Rating) last announced its quarterly earnings data on Wednesday, March 16th. The semiconductor company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. Semtech had a net margin of 16.96% and a return on equity of 17.89%. The company had revenue of $190.60 million during the quarter, compared to the consensus estimate of $189.34 million. During the same quarter in the prior year, the firm earned $0.31 EPS. Semtech’s quarterly revenue was up 15.7% on a year-over-year basis. On average, analysts expect Semtech to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

NASDAQ:SMTC opened at $58.47 on Wednesday. The company has a quick ratio of 3.02, a current ratio of 3.91 and a debt-to-equity ratio of 0.23. Semtech has a fifty-two week low of $56.00 and a fifty-two week high of $94.92. The stock has a market cap of $3.75 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.54. The firm’s fifty day simple moving average is $63.53 and its 200-day simple moving average is $73.62.

In other Semtech news, CEO Mohan Maheswaran sold 25,000 shares of Semtech stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $70.13, for a total value of $1,753,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher H. Chang sold 6,950 shares of Semtech stock in a transaction on Monday, March 28th. The shares were sold at an average price of $70.57, for a total value of $490,461.50. The disclosure for this sale can be found here. Insiders sold 44,950 shares of company stock worth $3,079,392 in the last three months. Insiders own 1.30% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can lifted its stake in shares of Semtech by 24.8% in the 1st quarter. Bank of Montreal Can now owns 5,486 shares of the semiconductor company’s stock valued at $397,000 after purchasing an additional 1,089 shares during the period. Squarepoint Ops LLC bought a new stake in Semtech during the 4th quarter worth approximately $319,000. Mackenzie Financial Corp grew its holdings in shares of Semtech by 12.7% in the first quarter. Mackenzie Financial Corp now owns 4,554 shares of the semiconductor company’s stock valued at $316,000 after acquiring an additional 513 shares in the last quarter. Ethic Inc. grew its holdings in shares of Semtech by 7.6% in the first quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock valued at $315,000 after acquiring an additional 320 shares in the last quarter. Finally, Prelude Capital Management LLC bought a new position in shares of Semtech in the first quarter valued at approximately $314,000. Institutional investors and hedge funds own 96.33% of the company’s stock.

Several equities research analysts have issued reports on SMTC shares. Wells Fargo & Company decreased their price target on shares of Semtech from $100.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, March 17th. Susquehanna Bancshares lifted their price objective on shares of Semtech from $69.00 to $75.00 in a research note on Thursday, March 17th. B. Riley lifted their price objective on shares of Semtech from $83.00 to $87.00 in a research note on Thursday, March 17th. StockNews.com initiated coverage on shares of Semtech in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Stifel Nicolaus cut their target price on Semtech from $102.00 to $95.00 in a research note on Thursday, March 17th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Semtech currently has a consensus rating of “Buy” and a consensus price target of $81.55.

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 for Semtech (NASDAQ:SMTC)

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