$161.38 Million in Sales Expected for Semtech Co. (SMTC) This Quarter

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Wall Street brokerages expect that Semtech Co. (NASDAQ:SMTC) will post sales of $161.38 million for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Semtech’s earnings. The highest sales estimate is $163.66 million and the lowest is $159.80 million. Semtech posted sales of $153.13 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The business is expected to issue its next quarterly earnings report on Wednesday, August 29th.

On average, analysts expect that Semtech will report full year sales of $658.52 million for the current fiscal year, with estimates ranging from $645.47 million to $685.17 million. For the next financial year, analysts expect that the firm will report sales of $727.46 million per share, with estimates ranging from $710.53 million to $760.60 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Semtech.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, May 30th. The semiconductor company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.01. Semtech had a return on equity of 12.05% and a net margin of 6.44%. The company had revenue of $151.90 million during the quarter, compared to analysts’ expectations of $150.33 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year.

A number of research firms have recently weighed in on SMTC. Needham & Company LLC boosted their price target on Semtech from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. BidaskClub raised Semtech from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. Royal Bank of Canada raised Semtech from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 9th. They noted that the move was a valuation call. Oppenheimer boosted their price target on Semtech from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, June 21st. Finally, B. Riley boosted their price target on Semtech from $57.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Semtech has an average rating of “Buy” and an average target price of $54.10.

NASDAQ SMTC opened at $48.85 on Tuesday. Semtech has a fifty-two week low of $31.30 and a fifty-two week high of $51.90. The firm has a market capitalization of $3.16 billion, a PE ratio of 34.93, a P/E/G ratio of 8.45 and a beta of 1.37. The company has a quick ratio of 3.51, a current ratio of 4.09 and a debt-to-equity ratio of 0.30.

In related news, insider Mohan Maheswaran sold 2,500 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $50.62, for a total value of $126,550.00. Following the completion of the transaction, the insider now directly owns 154,465 shares in the company, valued at $7,819,018.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gary Beauchamp sold 24,029 shares of the company’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $46.87, for a total value of $1,126,239.23. Following the completion of the transaction, the executive vice president now owns 24,029 shares of the company’s stock, valued at $1,126,239.23. The disclosure for this sale can be found here. Insiders sold 313,953 shares of company stock valued at $15,542,192 over the last quarter. Insiders own 2.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SMTC. Deutsche Bank AG increased its stake in Semtech by 33.4% in the fourth quarter. Deutsche Bank AG now owns 176,631 shares of the semiconductor company’s stock valued at $6,038,000 after purchasing an additional 44,199 shares during the last quarter. Guggenheim Capital LLC increased its stake in Semtech by 37.1% in the fourth quarter. Guggenheim Capital LLC now owns 18,823 shares of the semiconductor company’s stock valued at $643,000 after purchasing an additional 5,095 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in Semtech in the fourth quarter valued at $1,015,000. Xact Kapitalforvaltning AB acquired a new position in Semtech in the fourth quarter valued at $215,000. Finally, Rhumbline Advisers increased its stake in Semtech by 2.1% in the first quarter. Rhumbline Advisers now owns 155,120 shares of the semiconductor company’s stock valued at $6,057,000 after purchasing an additional 3,263 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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