Semtech Co. (NASDAQ:SMTC) Forecasted to Post FY2020 Earnings of $1.02 Per Share

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Semtech Co. (NASDAQ:SMTC) – Equities researchers at B. Riley cut their FY2020 earnings estimates for shares of Semtech in a research report issued on Monday, December 2nd. B. Riley analyst C. Ellis now expects that the semiconductor company will earn $1.02 per share for the year, down from their prior estimate of $1.09. B. Riley has a “Buy” rating and a $55.00 price target on the stock. B. Riley also issued estimates for Semtech’s Q4 2020 earnings at $0.26 EPS, Q1 2021 earnings at $0.20 EPS, Q2 2021 earnings at $0.24 EPS, Q3 2021 earnings at $0.25 EPS, Q4 2021 earnings at $0.23 EPS and FY2021 earnings at $0.92 EPS.

SMTC has been the topic of a number of other reports. Stifel Nicolaus raised their price target on Semtech from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. BidaskClub cut Semtech from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. BWS Financial downgraded shares of Semtech from a “buy” rating to a “hold” rating and dropped their price objective for the company from $70.00 to $50.00 in a research note on Friday, November 15th. Craig Hallum cut their price objective on shares of Semtech from $9.00 to $6.00 in a report on Monday, September 23rd. Finally, Oppenheimer reissued a “buy” rating and issued a $52.00 target price on shares of Semtech in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.64.

Semtech stock opened at $45.74 on Tuesday. The firm has a market capitalization of $3.22 billion, a P/E ratio of 34.39, a PEG ratio of 3.92 and a beta of 1.91. The stock has a fifty day moving average price of $50.65 and a 200 day moving average price of $47.57. Semtech has a 52 week low of $39.54 and a 52 week high of $57.96. The company has a current ratio of 4.10, a quick ratio of 3.42 and a debt-to-equity ratio of 0.27.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd grew its stake in Semtech by 28.1% during the second quarter. Point72 Hong Kong Ltd now owns 1,450 shares of the semiconductor company’s stock worth $70,000 after buying an additional 318 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Semtech during the 2nd quarter valued at $86,000. Marshall Wace LLP acquired a new position in shares of Semtech during the 2nd quarter valued at $203,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Semtech by 8.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,346 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 347 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Semtech by 969.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,314 shares of the semiconductor company’s stock valued at $255,000 after purchasing an additional 4,817 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

In other news, VP Alisair Fulton sold 709 shares of Semtech stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $49.38, for a total value of $35,010.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sylvia Summers sold 6,487 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.31, for a total value of $300,412.97. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $926,200. The disclosure for this sale can be found here. Insiders have sold 25,717 shares of company stock valued at $1,262,791 over the last 90 days. 1.96% of the stock is currently owned by insiders.

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, and communications 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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