Semtech (NASDAQ:SMTC) Releases Earnings Results

by · The Markets Daily

Semtech (NASDAQ:SMTC – Get Free Report) announced its quarterly earnings data on Monday. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01, FiscalAI reports. The business had revenue of $274.40 million for the quarter, compared to analyst estimates of $273.14 million. Semtech had a net margin of 2.77% and a return on equity of 17.00%.

Semtech Stock Performance

Shares of SMTC stock traded up $4.15 during trading hours on Monday, hitting $89.00. The stock had a trading volume of 2,647,809 shares, compared to its average volume of 1,466,194. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.43 and a quick ratio of 1.71. The firm has a market capitalization of $8.24 billion, a PE ratio of 287.10 and a beta of 1.99. The stock’s 50 day moving average is $83.68 and its 200 day moving average is $73.88. Semtech has a twelve month low of $24.05 and a twelve month high of $96.46.

Analyst Ratings Changes

Several equities analysts recently commented on SMTC shares. UBS Group reissued a “buy” rating on shares of Semtech in a report on Tuesday, November 25th. Robert W. Baird increased their price objective on Semtech from $70.00 to $88.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Roth Mkm raised their target price on Semtech from $65.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Piper Sandler restated an “overweight” rating and set a $95.00 target price (up from $70.00) on shares of Semtech in a research note on Thursday, December 11th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Semtech in a report on Tuesday, February 24th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.43.

View Our Latest Report on Semtech

Insider Transactions at Semtech

In other Semtech news, Director Gregory Michael Fischer sold 1,034 shares of Semtech stock in a transaction on Friday, January 9th. The shares were sold at an average price of $75.50, for a total value of $78,067.00. Following the transaction, the director directly owned 2,857 shares in the company, valued at approximately $215,703.50. The trade was a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul V. Walsh, Jr. sold 500 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $78.25, for a total transaction of $39,125.00. Following the completion of the sale, the director directly owned 25,279 shares of the company’s stock, valued at $1,978,081.75. The trade was a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,191 shares of company stock worth $3,361,412 over the last 90 days. Company insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Semtech

Several institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its position in Semtech by 12,214.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,586 shares of the semiconductor company’s stock worth $89,000 after acquiring an additional 2,565 shares during the period. Empowered Funds LLC grew its stake in shares of Semtech by 11.5% in the 1st quarter. Empowered Funds LLC now owns 9,389 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 968 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Semtech by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 411,814 shares of the semiconductor company’s stock valued at $14,166,000 after purchasing an additional 22,629 shares during the period. Strs Ohio purchased a new stake in shares of Semtech during the first quarter worth approximately $65,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Semtech during the second quarter worth approximately $226,000.

Semtech Company Profile

(Get Free Report)

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.

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