Semtech (NASDAQ:SMTC) Releases Q1 Earnings Guidance

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on SMTC shares. UBS Group started coverage on shares of Semtech in a research note on Friday, January 17th. They set a “buy” rating and a $85.00 price objective on the stock. Craig Hallum boosted their price objective on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Robert W. Baird dropped their target price on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Susquehanna boosted their price target on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Finally, Northland Securities increased their price objective on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently 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 during mid-day trading on Thursday, reaching $32.71. 3,231,443 shares of the company traded hands, compared to its average volume of 2,805,875. The firm has a market cap of $2.48 billion, a PE ratio of -2.51, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. Semtech has a fifty-two week low of $21.56 and a fifty-two week high of $79.52. The stock has a fifty day simple moving average of $52.84 and a 200-day simple moving average of $51.25.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $249.40 million. During the same period in the prior year, the firm posted ($0.06) EPS. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. As a group, analysts predict that Semtech will post -0.02 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark Lin sold 1,359 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $65.15, for a total transaction of $88,538.85. Following the sale, the chief financial officer now directly owns 4,164 shares of the company’s stock, valued at $271,284.60. The trade was a 24.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the transaction, the senior vice president now owns 6,317 shares of the company’s stock, valued at $399,866.10. This trade represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders 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.