Semtech (NASDAQ:SMTC) Updates Q1 Earnings Guidance

Semtech (NASDAQ:SMTC) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of $(0.04)-$0.04 for the period, compared to the consensus earnings per share estimate of $0.02. The company issued revenue guidance of $195-205 million, compared to the consensus revenue estimate of $195.28 million.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SMTC. Roth Mkm reduced their price target on shares of Semtech from $46.00 to $42.00 and set a buy rating on the stock in a report on Thursday, December 7th. Needham & Company LLC reduced their price target on shares of Semtech from $35.00 to $26.00 and set a buy rating on the stock in a report on Thursday, December 7th. Robert W. Baird reaffirmed an outperform rating and issued a $40.00 price target on shares of Semtech in a report on Tuesday. Susquehanna upped their price target on shares of Semtech from $25.00 to $30.00 and gave the company a positive rating in a report on Thursday, March 14th. Finally, Stifel Nicolaus boosted their price objective on shares of Semtech from $22.00 to $26.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $33.10.

Semtech Trading Down 1.3 %

Shares of SMTC traded down $0.37 during trading hours on Thursday, hitting $27.49. The stock had a trading volume of 5,234,741 shares, compared to its average volume of 1,317,711. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.72 and a current ratio of 2.39. The firm has a market cap of $1.77 billion, a P/E ratio of -3.51, a P/E/G ratio of 14.68 and a beta of 1.81. The company’s fifty day simple moving average is $21.48 and its 200 day simple moving average is $20.40. Semtech has a 12-month low of $13.13 and a 12-month high of $32.44.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new position in shares of Semtech in the 2nd quarter worth $41,000. Captrust Financial Advisors increased its holdings in Semtech by 186.5% in the 1st quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 664 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Semtech in the 1st quarter valued at $84,000. Covestor Ltd increased its holdings in Semtech by 123.9% in the 1st quarter. Covestor Ltd now owns 1,397 shares of the semiconductor company’s stock valued at $97,000 after purchasing an additional 773 shares in the last quarter. Finally, Quarry LP acquired a new stake in Semtech in the 1st quarter valued at $49,000.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.