Semtech (SMTC) to Release Earnings on Thursday

Semtech (NASDAQ:SMTC) is expected to be releasing its earnings data after the market closes on Thursday, March 13th. Analysts expect Semtech to post earnings of $0.32 per share and revenue of $249.40 million for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Semtech Trading Up 2.2 %

Shares of SMTC opened at $36.84 on Thursday. The business’s 50-day moving average price is $56.42 and its 200 day moving average price is $51.47. The stock has a market capitalization of $2.79 billion, a P/E ratio of -2.82, a P/E/G ratio of 2.12 and a beta of 1.69. Semtech has a 1-year low of $21.56 and a 1-year high of $79.52.

Insider Activity at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares in the company, valued at approximately $5,349,190. The trade was a 2.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Lin sold 6,114 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total value of $401,934.36. Following the completion of the sale, the chief financial officer now owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. This trade represents a 63.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SMTC. Craig Hallum lifted their price target on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. UBS Group assumed coverage on Semtech in a research note on Friday, January 17th. They set a “buy” rating and a $85.00 target price on the stock. Susquehanna lifted their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Benchmark lifted their target price on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus lowered their target price on Semtech from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average target price of $67.91.

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.