Semtech (NASDAQ:SMTC) Updates Q4 Earnings Guidance

Semtech (NASDAQ:SMTC) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.33-0.39 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.39. The company issued revenue guidance of $130-140 million, compared to the consensus revenue estimate of $138.04 million.Semtech also updated its Q4 2020
After-Hours guidance to 0.33-0.39 EPS.

NASDAQ SMTC traded down $0.91 during trading on Thursday, hitting $45.88. 638,558 shares of the company’s stock were exchanged, compared to its average volume of 555,726. The company has a current ratio of 4.10, a quick ratio of 3.42 and a debt-to-equity ratio of 0.27. The company has a market cap of $3.11 billion, a PE ratio of 34.50, a P/E/G ratio of 3.92 and a beta of 1.91. Semtech has a fifty-two week low of $39.54 and a fifty-two week high of $57.96. The stock’s 50 day moving average price is $50.61 and its two-hundred day moving average price is $47.57.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, December 4th. The semiconductor company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $141.00 million for the quarter, compared to the consensus estimate of $140.15 million. Semtech had a net margin of 7.34% and a return on equity of 12.91%. The firm’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. Analysts forecast that Semtech will post 1.02 earnings per share for the current fiscal year.

A number of brokerages have weighed in on SMTC. B. Riley cut their target price on shares of Semtech from $60.00 to $55.00 and set a buy rating on the stock in a research report on Thursday, August 29th. BidaskClub downgraded shares of Semtech from a hold rating to a sell rating in a report on Saturday, November 23rd. Cowen dropped their price target on Semtech from $56.00 to $54.00 and set an outperform rating for the company in a research note on Monday, September 9th. Wells Fargo & Co reissued an outperform rating and set a $55.00 price objective (down previously from $60.00) on shares of Semtech in a report on Thursday. Finally, ValuEngine upgraded Semtech from a buy rating to a strong-buy rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $47.64.

In related news, Director Sylvia Summers sold 6,487 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were 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 $926,200. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Mark C. Costello sold 8,951 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.80, for a total value of $418,906.80. Following the completion of the sale, the vice president now owns 3,090 shares of the company’s stock, valued at $144,612. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,717 shares of company stock valued at $1,262,791. Corporate insiders own 1.96% 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, 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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