Semtech (SMTC) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Semtech (NASDAQ:SMTC) posted its quarterly earnings results on Wednesday. The semiconductor company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02, RTT News reports. Semtech had a return on equity of 14.23% and a net margin of 7.97%. The firm had revenue of $160.00 million during the quarter, compared to analysts’ expectations of $158.48 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. Semtech updated its Q1 2020 guidance to $0.30-0.36 EPS and its Q1 guidance to $0.30-0.36 EPS.

NASDAQ:SMTC traded up $0.90 during mid-day trading on Wednesday, hitting $55.50. 771,878 shares of the company traded hands, compared to its average volume of 499,598. Semtech has a one year low of $34.65 and a one year high of $60.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.53 and a current ratio of 4.03. The firm has a market capitalization of $3.58 billion, a PE ratio of 39.64, a P/E/G ratio of 2.51 and a beta of 1.65.

Several research analysts have recently weighed in on the company. ValuEngine cut Semtech from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. BidaskClub upgraded Semtech from a “hold” rating to a “buy” rating in a research note on Wednesday, February 27th. B. Riley boosted their price target on Semtech from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Zacks Investment Research cut Semtech from a “hold” rating to a “sell” rating in a research report on Monday, December 3rd. Finally, Roth Capital set a $62.00 price objective on Semtech and gave the company a “buy” rating in a research report on Thursday, November 29th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Semtech currently has a consensus rating of “Buy” and a consensus price target of $60.45.



In other Semtech news, SVP Sharon K. Faltemier sold 20,000 shares of the business’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $45.53, for a total transaction of $910,600.00. Following the completion of the sale, the senior vice president now owns 33,386 shares of the company’s stock, valued at $1,520,064.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Michael Wilson sold 5,000 shares of the business’s stock in a transaction dated Monday, December 31st. The shares were sold at an average price of $45.52, for a total value of $227,600.00. Following the sale, the executive vice president now directly owns 77,419 shares of the company’s stock, valued at approximately $3,524,112.88. The disclosure for this sale can be found here. Insiders have sold 52,300 shares of company stock valued at $2,516,512 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

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About Semtech

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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Earnings History for Semtech (NASDAQ:SMTC)

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