Semtech (NASDAQ:SMTC) Issues Q4 Earnings Guidance

Semtech (NASDAQ:SMTC) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.29-0.35 for the period, compared to the consensus earnings per share estimate of $0.27. The company issued revenue guidance of $245-255 million, compared to the consensus revenue estimate of $242.03 million.

Analysts Set New Price Targets

Several equities research analysts recently commented on SMTC shares. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. B. Riley boosted their target price on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Roth Mkm lifted their price target on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. Finally, Susquehanna increased their price objective on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Semtech has an average rating of “Moderate Buy” and an average price target of $54.10.

Semtech Price Performance

Shares of SMTC traded up $2.55 during midday trading on Monday, reaching $53.44. The stock had a trading volume of 3,604,811 shares, compared to its average volume of 1,803,333. Semtech has a 52 week low of $15.63 and a 52 week high of $53.74. The firm’s 50 day moving average price is $45.56 and its 200-day moving average price is $38.86. The company has a market capitalization of $4.02 billion, a P/E ratio of -3.90 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS. On average, equities analysts forecast that Semtech will post -0.07 earnings per share for the current year.

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.