Semtech (NASDAQ:SMTC) Releases Q2 Earnings Guidance

Semtech (NASDAQ:SMTC) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.06-0.12 for the period, compared to the consensus estimate of $0.10. The company issued revenue guidance of $207-217 million, compared to the consensus revenue estimate of $212.42 million.

Semtech Stock Down 2.8 %

SMTC stock opened at $35.86 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.40 and a debt-to-equity ratio of 4.11. Semtech has a fifty-two week low of $13.13 and a fifty-two week high of $46.86. The firm’s 50-day simple moving average is $35.32 and its 200 day simple moving average is $28.41. The stock has a market cap of $2.32 billion, a PE ratio of -2.12 and a beta of 1.55.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, June 5th. The semiconductor company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). The firm had revenue of $206.11 million for the quarter, compared to analysts’ expectations of $200.16 million. Semtech had a negative net margin of 129.52% and a negative return on equity of 154.99%. As a group, sell-side analysts predict that Semtech will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

SMTC has been the topic of several research analyst reports. Piper Sandler reissued an overweight rating and set a $60.00 target price (up previously from $40.00) on shares of Semtech in a research note on Wednesday, May 29th. B. Riley raised their target price on shares of Semtech from $43.00 to $50.00 and gave the company a buy rating in a research note on Friday, May 17th. Needham & Company LLC raised their target price on shares of Semtech from $38.00 to $50.00 and gave the company a buy rating in a research note on Thursday, June 6th. Susquehanna raised their target price on shares of Semtech from $45.00 to $55.00 and gave the company a positive rating in a research note on Thursday, June 6th. Finally, Oppenheimer reaffirmed a market perform rating on shares of Semtech in a research note on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $48.90.

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.