Semtech Co. (NASDAQ:SMTC) shares traded up 10.9% on Thursday following a stronger than expected earnings report. The stock traded as high as $40.75 and last traded at $38.70. 3,333,447 shares changed hands during mid-day trading, an increase of 430% from the average session volume of 629,530 shares. The stock had previously closed at $34.90.
The semiconductor company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $142.11 million during the quarter, compared to analysts’ expectations of $140.49 million. Semtech had a net margin of 7.79% and a return on equity of 12.13%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share.
A number of analysts have recently commented on the stock. BidaskClub raised shares of Semtech from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Summit Insights raised shares of Semtech from a “hold” rating to a “buy” rating in a research note on Thursday. Roth Capital set a $45.00 target price on shares of Semtech and gave the stock a “buy” rating in a research note on Thursday. BWS Financial assumed coverage on shares of Semtech in a research note on Monday, November 20th. They set a “buy” rating and a $49.00 target price for the company. Finally, Oppenheimer reissued a “buy” rating and set a $42.00 target price on shares of Semtech in a research note on Sunday, November 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $42.56.
A number of institutional investors and hedge funds have recently bought and sold shares of SMTC. Crossmark Global Holdings Inc. acquired a new position in Semtech during the third quarter worth about $438,000. BNP Paribas Arbitrage SA boosted its position in Semtech by 55.6% during the third quarter. BNP Paribas Arbitrage SA now owns 34,609 shares of the semiconductor company’s stock worth $1,300,000 after acquiring an additional 12,360 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Semtech by 52.2% during the third quarter. Municipal Employees Retirement System of Michigan now owns 27,460 shares of the semiconductor company’s stock worth $1,031,000 after acquiring an additional 9,420 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Semtech by 223.0% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 34,908 shares of the semiconductor company’s stock worth $1,311,000 after acquiring an additional 24,100 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Semtech by 1.9% during the third quarter. Rhumbline Advisers now owns 130,593 shares of the semiconductor company’s stock worth $4,904,000 after acquiring an additional 2,421 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.
The stock has a market capitalization of $2,319.23, a PE ratio of 56.74, a price-to-earnings-growth ratio of 4.69 and a beta of 1.41. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.32.
Semtech Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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