Semtech Corp. (NASDAQ:SMTC) will post its quarterly earnings results after the market closes on Wednesday, November 30th. Analysts expect Semtech Corp. to post earnings of $0.36 per share for the quarter. Semtech Corp. has set its Q3 guidance at 0.34-0.38 EPS.
Semtech Corp. (NASDAQ:SMTC) last announced its earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. Semtech Corp. had a return on equity of 8.89% and a net margin of 5.55%. The company had revenue of $135.90 million for the quarter. During the same period in the previous year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts expect Semtech Corp. to post $1.06 EPS for the current fiscal year and $1.32 EPS for the next fiscal year.
Semtech Corp. (NASDAQ:SMTC) opened at 28.30 on Monday. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 67.22 and a beta of 1.39. The firm has a 50 day moving average price of $25.72 and a 200-day moving average price of $25.07. Semtech Corp. has a 12 month low of $15.70 and a 12 month high of $28.45.
In related news, insider Mohan Maheswaran sold 1,500 shares of Semtech Corp. stock in a transaction on Monday, November 14th. The stock was sold at an average price of $26.06, for a total transaction of $39,090.00. Following the completion of the sale, the insider now directly owns 180,367 shares of the company’s stock, valued at $4,700,364.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Rockell N. Hankin sold 6,795 shares of Semtech Corp. stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $27.73, for a total value of $188,425.35. Following the sale, the director now directly owns 166,735 shares of the company’s stock, valued at $4,623,561.55. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.
Several large investors have recently made changes to their positions in SMTC. Zacks Investment Management bought a new stake in shares of Semtech Corp. during the second quarter worth approximately $224,000. Summit Securities Group LLC bought a new stake in shares of Semtech Corp. during the second quarter worth approximately $239,000. Panagora Asset Management Inc. boosted its stake in shares of Semtech Corp. by 7,084.7% in the third quarter. Panagora Asset Management Inc. now owns 8,909 shares of the company’s stock worth $247,000 after buying an additional 8,785 shares during the period. Verition Fund Management LLC bought a new stake in shares of Semtech Corp. during the third quarter worth approximately $248,000. Finally, Allianz Asset Management AG boosted its stake in shares of Semtech Corp. by 3.9% in the second quarter. Allianz Asset Management AG now owns 10,790 shares of the company’s stock worth $257,000 after buying an additional 405 shares during the period. 96.53% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have issued reports on SMTC shares. Zacks Investment Research downgraded Semtech Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. B. Riley reiterated a “buy” rating and issued a $31.50 price objective on shares of Semtech Corp. in a research report on Thursday, August 25th. Drexel Hamilton lifted their price objective on Semtech Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, September 1st. Finally, Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Semtech Corp. in a research report on Monday, September 5th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Semtech Corp. currently has an average rating of “Buy” and a consensus price target of $27.33.
About Semtech Corp.