Semtech (SMTC) to Release Earnings on Wednesday

Semtech (NASDAQ:SMTCGet Rating) is set to announce its earnings results after the market closes on Wednesday, November 30th. Analysts expect the company to announce earnings of $0.64 per share for the quarter. Semtech has set its Q3 2023 guidance at $0.60-$0.66 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Semtech (NASDAQ:SMTCGet Rating) last announced its quarterly earnings results on Wednesday, August 31st. The semiconductor company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $209.25 million for the quarter, compared to analysts’ expectations of $208.29 million. Semtech had a return on equity of 21.18% and a net margin of 19.94%. The company’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. On average, analysts expect Semtech to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $29.62 on Wednesday. The company has a 50 day moving average of $28.77 and a 200 day moving average of $45.25. The company has a current ratio of 4.12, a quick ratio of 3.35 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.88 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.90 and a beta of 1.64. Semtech has a 12 month low of $25.29 and a 12 month high of $92.15.

Analyst Ratings Changes

A number of research firms have recently commented on SMTC. StockNews.com initiated coverage on shares of Semtech in a research report on Wednesday, October 12th. They set a “buy” rating for the company. B. Riley reduced their target price on Semtech from $53.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, October 4th. Cowen cut Semtech from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $65.00 to $43.00 in a report on Thursday, September 1st. Cowen lowered Semtech from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $65.00 to $43.00 in a report on Thursday, September 1st. Finally, Needham & Company LLC downgraded shares of Semtech to a “hold” rating in a research note on Tuesday, August 9th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $58.83.

Institutional Trading of Semtech

Several hedge funds have recently added to or reduced their stakes in SMTC. Ethic Inc. lifted its position in 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 purchasing an additional 320 shares during the last quarter. Zebra Capital Management LLC boosted its position in Semtech by 10.5% during the 1st quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 327 shares during the period. Bridgefront Capital LLC grew its holdings 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 acquiring an additional 377 shares during the last quarter. LPL Financial LLC increased its position in shares of Semtech by 2.9% in the second quarter. LPL Financial LLC now owns 14,823 shares of the semiconductor company’s stock valued at $815,000 after acquiring an additional 418 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Semtech by 12.7% during 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 during the last quarter. 97.53% of the stock is owned by institutional investors.

About Semtech

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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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