Semtech (NASDAQ:SMTC) Updates Q1 Earnings Guidance

Semtech (NASDAQ:SMTC) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $(0.04)-$0.04 for the period, compared to the consensus estimate of $0.02. The company issued revenue guidance of $195-205 million, compared to the consensus revenue estimate of $195.28 million.

Analysts Set New Price Targets

A number of research firms recently weighed in on SMTC. Stifel Nicolaus raised their price objective on Semtech from $22.00 to $26.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Roth Mkm cut their target price on Semtech from $46.00 to $42.00 and set a buy rating on the stock in a research note on Thursday, December 7th. Robert W. Baird reiterated an outperform rating and set a $40.00 target price on shares of Semtech in a research note on Tuesday. Needham & Company LLC cut their target price on Semtech from $35.00 to $26.00 and set a buy rating on the stock in a research note on Thursday, December 7th. Finally, Susquehanna increased their target price on Semtech from $25.00 to $30.00 and gave the company a positive rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $33.10.

Semtech Trading Down 1.3 %

Shares of NASDAQ SMTC traded down $0.37 during trading hours on Thursday, reaching $27.49. The stock had a trading volume of 5,234,741 shares, compared to its average volume of 1,317,711. The company has a current ratio of 2.39, a quick ratio of 1.72 and a debt-to-equity ratio of 4.11. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -3.51, a P/E/G ratio of 14.68 and a beta of 1.81. The business’s fifty day moving average price is $21.48 and its two-hundred day moving average price is $20.40. Semtech has a 52-week low of $13.13 and a 52-week high of $32.44.

Hedge Funds Weigh In On Semtech

A number of large investors have recently bought and sold shares of the business. Ethic Inc. raised its stake in Semtech by 7.6% in the first quarter. Ethic Inc. now owns 4,548 shares of the semiconductor company’s stock worth $315,000 after buying an additional 320 shares in the last quarter. Zebra Capital Management LLC increased its position in shares of Semtech by 10.5% during the first quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 327 shares in the last quarter. Credit Suisse AG increased its position in shares of Semtech by 0.6% during the fourth quarter. Credit Suisse AG now owns 61,814 shares of the semiconductor company’s stock worth $1,773,000 after purchasing an additional 347 shares in the last quarter. Bridgefront Capital LLC increased its position in shares of Semtech by 14.7% during the first quarter. Bridgefront Capital LLC now owns 2,944 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 377 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Semtech by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 25,914 shares of the semiconductor company’s stock worth $660,000 after purchasing an additional 399 shares in the last quarter.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.