Equities research analysts predict that Semtech Co. (NASDAQ:SMTC) will report sales of $173.19 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Semtech’s earnings, with the highest sales estimate coming in at $175.23 million and the lowest estimate coming in at $171.98 million. Semtech reported sales of $150.30 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.2%. The firm is expected to announce its next quarterly earnings report on Wednesday, December 5th.
On average, analysts expect that Semtech will report full year sales of $654.78 million for the current fiscal year, with estimates ranging from $640.53 million to $661.20 million. For the next year, analysts expect that the company will report sales of $724.61 million, with estimates ranging from $692.04 million to $756.40 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Semtech.
Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, August 29th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Semtech had a return on equity of 12.66% and a net margin of 8.48%. The firm had revenue of $163.20 million for the quarter, compared to analysts’ expectations of $161.21 million. During the same period in the previous year, the firm earned $0.48 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year.
In related news, CFO Emeka Chukwu sold 1,100 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $58.23, for a total value of $64,053.00. Following the sale, the chief financial officer now directly owns 89,330 shares of the company’s stock, valued at $5,201,685.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Asaf Silberstein sold 2,000 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $59.20, for a total value of $118,400.00. Following the completion of the sale, the senior vice president now directly owns 41,897 shares in the company, valued at $2,480,302.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,886 shares of company stock worth $2,288,967. 2.30% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Frontier Capital Management Co. LLC boosted its holdings in Semtech by 18.4% in the second quarter. Frontier Capital Management Co. LLC now owns 4,407,687 shares of the semiconductor company’s stock worth $207,382,000 after acquiring an additional 684,861 shares in the last quarter. BlackRock Inc. boosted its holdings in Semtech by 6.4% in the second quarter. BlackRock Inc. now owns 9,134,382 shares of the semiconductor company’s stock worth $429,775,000 after acquiring an additional 549,595 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Semtech by 30.9% in the third quarter. Bank of New York Mellon Corp now owns 2,299,759 shares of the semiconductor company’s stock worth $127,868,000 after acquiring an additional 543,325 shares in the last quarter. Columbus Circle Investors bought a new stake in Semtech in the second quarter worth $24,791,000. Finally, Voya Investment Management LLC boosted its holdings in Semtech by 1,173.5% in the second quarter. Voya Investment Management LLC now owns 361,573 shares of the semiconductor company’s stock worth $17,012,000 after acquiring an additional 333,180 shares in the last quarter. 96.77% of the stock is currently owned by institutional investors.
Shares of SMTC traded down $1.85 during mid-day trading on Wednesday, hitting $46.73. 381,205 shares of the company’s stock traded hands, compared to its average volume of 439,262. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.62 and a current ratio of 4.13. Semtech has a 1 year low of $31.30 and a 1 year high of $60.55. The stock has a market capitalization of $3.23 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 6.25 and a beta of 1.68.
Semtech Company Profile
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, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.
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