Semtech (NASDAQ:SMTC) Issues Q1 Earnings Guidance

Semtech (NASDAQ:SMTC) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.34-0.40 for the period, compared to the consensus earnings per share estimate of $0.34. The company issued revenue guidance of $245-255 million, compared to the consensus revenue estimate of $250.92 million.

Analyst Upgrades and Downgrades

SMTC has been the subject of a number of analyst reports. B. Riley upped their price target on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Susquehanna raised their price objective on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Benchmark boosted their target price on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. UBS Group assumed coverage on shares of Semtech in a research report on Friday, January 17th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Stifel Nicolaus set a $60.00 price target on shares of Semtech in a research note on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Semtech Price Performance

Shares of NASDAQ SMTC traded down $1.14 on Thursday, hitting $32.71. The company’s stock had a trading volume of 3,059,426 shares, compared to its average volume of 2,785,086. The stock has a 50 day moving average of $52.84 and a 200-day moving average of $51.25. Semtech has a 12-month low of $21.56 and a 12-month high of $79.52. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -2.51, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $249.40 million. During the same period in the previous year, the business posted ($0.06) EPS. The business’s quarterly revenue was up 30.1% on a year-over-year basis. Sell-side analysts expect that Semtech will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at Semtech

In other Semtech news, CFO Mark Lin sold 10,890 shares of Semtech stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following the completion of the sale, the chief financial officer now owns 11,625 shares in the company, valued at $403,155. The trade was a 48.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the transaction, the senior vice president now owns 14 shares in the company, valued at approximately $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,637 shares of company stock worth $1,472,726. Corporate insiders own 0.60% of the company’s stock.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor 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.