Semtech (NASDAQ:SMTC) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

Semtech Stock Up 5.0%

Shares of SMTC traded up $4.23 during mid-day trading on Monday, hitting $89.08. 2,003,489 shares of the company’s stock were exchanged, compared to its average volume of 1,462,176. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.43 and a quick ratio of 1.71. Semtech has a 52 week low of $24.05 and a 52 week high of $96.46. The company has a market cap of $8.24 billion, a PE ratio of 287.36 and a beta of 1.99. The company has a 50-day simple moving average of $83.68 and a 200 day simple moving average of $73.88.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SMTC shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Semtech in a research note on Monday, December 29th. Susquehanna upped their price objective on Semtech from $90.00 to $100.00 and gave the company a “positive” rating in a report on Monday, March 9th. Morgan Stanley increased their target price on Semtech from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday. Stifel Nicolaus raised their target price on Semtech from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, B. Riley Financial boosted their target price on Semtech from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.43.

Insiders Place Their Bets

In other news, COO Asaf Silberstein sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $92.00, for a total value of $920,000.00. Following the completion of the transaction, the chief operating officer owned 68,496 shares in the company, valued at $6,301,632. This trade represents a 12.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul V. Walsh, Jr. sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $78.25, for a total value of $39,125.00. Following the transaction, the director directly owned 25,279 shares in the company, valued at $1,978,081.75. This trade represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,191 shares of company stock valued at $3,361,412 over the last 90 days. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Semtech

Several large investors have recently made changes to their positions in the stock. Captrust Financial Advisors raised its position in Semtech by 0.8% during the fourth quarter. Captrust Financial Advisors now owns 19,302 shares of the semiconductor company’s stock worth $1,422,000 after acquiring an additional 162 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Semtech by 1.5% in the 4th quarter. Cetera Investment Advisers now owns 11,737 shares of the semiconductor company’s stock valued at $865,000 after acquiring an additional 177 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Semtech by 24.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,274 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 247 shares during the period. State of Wyoming increased its stake in shares of Semtech by 19.3% during the 4th quarter. State of Wyoming now owns 1,524 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 247 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its stake in shares of Semtech by 8.4% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,227 shares of the semiconductor company’s stock worth $238,000 after purchasing an additional 249 shares during the last quarter.

About Semtech

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.