Zacks: Brokerages Expect Semtech Co. (NASDAQ:SMTC) Will Announce Quarterly Sales of $139.94 Million

Equities analysts expect that Semtech Co. (NASDAQ:SMTC) will post $139.94 million in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for Semtech’s earnings. The highest sales estimate is $141.23 million and the lowest is $138.51 million. Semtech reported sales of $173.55 million during the same quarter last year, which indicates a negative year-over-year growth rate of 19.4%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, December 4th.

On average, analysts expect that Semtech will report full-year sales of $544.47 million for the current financial year, with estimates ranging from $540.10 million to $549.70 million. For the next fiscal year, analysts expect that the firm will report sales of $595.26 million, with estimates ranging from $575.30 million to $614.80 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Semtech.

A number of research firms have commented on SMTC. BidaskClub downgraded shares of Semtech from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Craig Hallum reduced their price target on shares of Semtech from $9.00 to $6.00 in a report on Monday, September 23rd. ValuEngine raised shares of Semtech from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 29th. B. Riley dropped their price objective on shares of Semtech from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Cowen cut their price objective on shares of Semtech from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $48.64.

In other news, Director Sylvia Summers sold 6,487 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.31, for a total transaction of $300,412.97. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $926,200. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Mark C. Costello sold 8,951 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.80, for a total value of $418,906.80. Following the completion of the sale, the vice president now directly owns 3,090 shares of the company’s stock, valued at approximately $144,612. The disclosure for this sale can be found here. Insiders sold a total of 25,717 shares of company stock worth $1,262,791 over the last 90 days. Company insiders own 1.96% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its stake in shares of Semtech by 4.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,605 shares of the semiconductor company’s stock valued at $1,278,000 after purchasing an additional 1,118 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Semtech in the second quarter worth approximately $458,000. Strs Ohio lifted its holdings in shares of Semtech by 4.1% during the 2nd quarter. Strs Ohio now owns 7,600 shares of the semiconductor company’s stock valued at $365,000 after buying an additional 300 shares during the period. Bridge City Capital LLC lifted its holdings in shares of Semtech by 19.2% during the 2nd quarter. Bridge City Capital LLC now owns 53,582 shares of the semiconductor company’s stock valued at $2,575,000 after buying an additional 8,620 shares during the period. Finally, Creative Planning boosted its stake in shares of Semtech by 5.8% in the 2nd quarter. Creative Planning now owns 5,693 shares of the semiconductor company’s stock worth $274,000 after buying an additional 310 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

NASDAQ:SMTC opened at $45.74 on Friday. Semtech has a 1-year low of $39.54 and a 1-year high of $57.96. The company has a 50-day moving average of $50.65 and a 200 day moving average of $47.57. The firm has a market cap of $3.22 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 3.92 and a beta of 1.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.10 and a quick ratio of 3.42.

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, and communications 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.

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