Semtech (SMTC) Projected to Post Quarterly Earnings on Thursday

Semtech (NASDAQ:SMTC) is anticipated to announce its earnings results after the market closes on Thursday, March 13th. Analysts expect the company to announce earnings of $0.32 per share and revenue of $249.40 million for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Semtech Price Performance

Shares of SMTC opened at $32.20 on Wednesday. The company has a market cap of $2.44 billion, a P/E ratio of -2.47, a PEG ratio of 2.12 and a beta of 1.69. The stock has a fifty day moving average price of $53.40 and a 200 day moving average price of $51.37. Semtech has a 12 month low of $21.56 and a 12 month high of $79.52.

Analyst Ratings Changes

A number of research analysts recently commented on SMTC shares. Northland Securities upped their price objective on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Piper Sandler restated an “overweight” rating and set a $55.00 price objective (down from $75.00) on shares of Semtech in a research note on Monday, February 10th. Craig Hallum upped their price objective on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Needham & Company LLC lowered their price objective on Semtech from $74.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Robert W. Baird reduced their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.91.

Insider Activity

In other news, SVP Imran Sherazi sold 1,338 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the sale, the senior vice president now owns 14 shares in the company, valued at $1,050. This represents a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark Lin sold 1,359 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total value of $88,538.85. Following the completion of the sale, the chief financial officer now owns 4,164 shares of the company’s stock, valued at approximately $271,284.60. This trade represents a 24.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,637 shares of company stock worth $1,472,726 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

About Semtech

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.