Semtech (NASDAQ:SMTC) Updates Q2 Earnings Guidance

Semtech (NASDAQ:SMTC) updated its second quarter earnings guidance on Friday. 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.

Analyst Ratings Changes

SMTC has been the subject of several recent research reports. Susquehanna boosted their price objective on Semtech from $45.00 to $55.00 and gave the company a positive rating in a research report on Thursday, June 6th. Roth Mkm increased their price target on shares of Semtech from $42.00 to $50.00 and gave the company a buy rating in a research report on Thursday, June 6th. Piper Sandler restated an overweight rating and issued a $60.00 price objective (up previously from $40.00) on shares of Semtech in a research report on Wednesday, May 29th. Needham & Company LLC increased their target price on shares of Semtech from $38.00 to $50.00 and gave the stock a buy rating in a report on Thursday, June 6th. Finally, Craig Hallum raised their target price on Semtech from $36.00 to $48.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Semtech presently has an average rating of Moderate Buy and a consensus price target of $48.90.

Semtech Price Performance

SMTC opened at $36.90 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.74 and a debt-to-equity ratio of 4.11. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -2.18 and a beta of 1.55. The stock has a fifty day simple moving average of $35.38 and a two-hundred day simple moving average of $28.32. Semtech has a 12-month low of $13.13 and a 12-month high of $46.86.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). The company had revenue of $206.11 million during 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%. Research analysts predict that Semtech will post -0.03 earnings per share for the current fiscal year.

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.