Semtech (NASDAQ:SMTC) Releases Q3 Earnings Guidance

Semtech (NASDAQ:SMTC) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.20-$0.26 for the period, compared to the consensus earnings per share estimate of $0.21. The company issued revenue guidance of $228-$238 million, compared to the consensus revenue estimate of $227.47 million.

Semtech Stock Performance

Shares of NASDAQ SMTC traded up $1.13 during midday trading on Tuesday, hitting $38.16. The company’s stock had a trading volume of 2,290,134 shares, compared to its average volume of 1,895,294. The firm has a market cap of $2.47 billion, a P/E ratio of -2.19 and a beta of 1.55. Semtech has a 1-year low of $13.13 and a 1-year high of $46.86. The firm’s fifty day moving average price is $32.35 and its 200-day moving average price is $31.16.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. The business had revenue of $206.11 million during the quarter, compared to analyst estimates of $200.16 million. As a group, research analysts predict that Semtech will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SMTC shares. Susquehanna lifted their price objective on shares of Semtech from $45.00 to $55.00 and gave the stock a positive rating in a research note on Thursday, June 6th. Craig Hallum upped their price target on Semtech from $36.00 to $48.00 and gave the company a buy rating in a report on Thursday, June 6th. Roth Mkm raised their price objective on Semtech from $42.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Northland Securities boosted their target price on Semtech from $36.50 to $46.00 and gave the stock an outperform rating in a research report on Thursday, June 6th. Finally, StockNews.com upgraded Semtech from a sell rating to a hold rating in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Semtech presently has a consensus rating of Moderate Buy and a consensus target price of $48.90.

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.