Semtech (NASDAQ:SMTC) Updates Q4 Earnings Guidance

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

Semtech Trading Up 5.0 %

SMTC stock traded up $2.55 during mid-day trading on Monday, reaching $53.44. The company’s stock had a trading volume of 3,604,811 shares, compared to its average volume of 1,803,333. Semtech has a 12 month low of $15.63 and a 12 month high of $53.74. The business’s 50 day moving average price is $45.56 and its 200 day moving average price is $38.86. The company has a market cap of $4.02 billion, a price-to-earnings ratio of -3.90 and a beta of 1.54.

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

Analysts Set New Price Targets

Several research analysts have recently commented on SMTC shares. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Semtech in a research report on Monday, October 7th. Stifel Nicolaus upped their price target on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. B. Riley upped their target price on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Roth Mkm boosted their price target on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.10.

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.