Semtech Co. (NASDAQ:SMTC) – Stock analysts at Oppenheimer raised their FY2021 earnings estimates for Semtech in a report released on Thursday, January 7th. Oppenheimer analyst R. Schafer now forecasts that the semiconductor company will earn $1.06 per share for the year, up from their prior estimate of $1.05. Oppenheimer has a “Outperform” rating and a $75.00 price objective on the stock. Oppenheimer also issued estimates for Semtech’s Q4 2021 earnings at $0.28 EPS, Q1 2022 earnings at $0.30 EPS, Q2 2022 earnings at $0.35 EPS, Q3 2022 earnings at $0.41 EPS, Q4 2022 earnings at $0.44 EPS and FY2022 earnings at $1.48 EPS.
Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, December 1st. The semiconductor company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $154.08 million for the quarter, compared to the consensus estimate of $149.88 million. Semtech had a net margin of 8.34% and a return on equity of 9.25%. Semtech’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share.
A number of other equities analysts have also issued reports on the company. Zacks Investment Research raised Semtech from a “strong sell” rating to a “hold” rating and set a $59.00 price target on the stock in a report on Tuesday, October 27th. Piper Sandler lifted their target price on Semtech from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, December 3rd. BidaskClub upgraded Semtech from a “sell” rating to a “hold” rating in a research note on Wednesday, September 30th. B. Riley lifted their price objective on shares of Semtech from $83.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, December 14th. Finally, Needham & Company LLC boosted their price objective on shares of Semtech from $68.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, December 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Semtech has a consensus rating of “Buy” and a consensus target price of $66.31.
Shares of Semtech stock opened at $74.57 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.69 and a current ratio of 4.45. The company has a market capitalization of $4.85 billion, a P/E ratio of 108.07, a PEG ratio of 4.37 and a beta of 1.66. Semtech has a 1 year low of $26.03 and a 1 year high of $76.35. The company’s fifty day moving average is $71.02 and its two-hundred day moving average is $60.41.
A number of large investors have recently made changes to their positions in the business. Harbor Investment Advisory LLC raised its stake in Semtech by 79.5% during the third quarter. Harbor Investment Advisory LLC now owns 736 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 326 shares during the period. Huntington National Bank raised its position in shares of Semtech by 187.0% in the 4th quarter. Huntington National Bank now owns 508 shares of the semiconductor company’s stock worth $37,000 after buying an additional 331 shares during the period. Advisor Group Holdings Inc. boosted its holdings in Semtech by 30.3% in the second quarter. Advisor Group Holdings Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 372 shares during the last quarter. California State Teachers Retirement System grew its position in Semtech by 0.5% during the third quarter. California State Teachers Retirement System now owns 97,848 shares of the semiconductor company’s stock valued at $5,182,000 after acquiring an additional 478 shares during the period. Finally, Legacy Bridge LLC increased its stake in Semtech by 5.2% during the third quarter. Legacy Bridge LLC now owns 10,075 shares of the semiconductor company’s stock worth $534,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.
In other news, CEO Mohan Maheswaran sold 15,000 shares of the stock in a transaction that occurred on Tuesday, December 8th. The shares were sold at an average price of $70.52, for a total value of $1,057,800.00. Following the sale, the chief executive officer now directly owns 154,135 shares in the company, valued at $10,869,600.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emeka Chukwu sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 6th. The stock was sold at an average price of $73.42, for a total transaction of $220,260.00. Following the transaction, the chief financial officer now directly owns 92,005 shares of the company’s stock, valued at $6,755,007.10. The disclosure for this sale can be found here. Insiders sold 147,424 shares of company stock worth $10,470,408 in the last three months. 1.79% of the stock is owned by corporate insiders.
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, communications, 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.
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