The company released its quarterly earnings on Wednesday. Semtech's return on equity was 15.24%, and its net margin was 8.11%. The company had revenue of $236.50 millions during the quarter compared with analysts' expectations $235.00 millions. In the same quarter of the year before, the company earned $0.67 per share. Revenue was up 17.0% year-over-year. Semtech's Q2 guidance was updated to $(0.02) -$0.06 per share and its Q2 2020 guidance to a -$0.02-$0.06 per share.
Semtech Stock Up 1.5 %
On Wednesday, the price of a share rose by $0.34 to $22.43. The company exchanged 2,569 395 shares, as opposed to the average of 1,388,067. Semtech's 12 month low is $17.82, and its 12 month high is $65.51. The market cap is $1.43 billion. It has a PE of 23.01, and a beta value of 1.67. The company's debt-to equity ratio is 1.72. Its quick ratio is 1.30, and its current ratio is 1.82. Recently, several institutional investors and hedge fund have bought and sold the company's shares. BlackRock Inc. increased its stake in Semtech in the first quarter by 29.7%. BlackRock Inc. owns 12,090364 shares in the semiconductor company valued at $291.861,000, after purchasing an additional 2,769.314 shares. Vanguard Group Inc. increased its stake in Semtech in the third quarter by 2.4%. Vanguard Group Inc. owns 6,576,015 of the semiconductor company stock, valued at $193.401,000, after purchasing an additional 151.730 shares. State Street Corp increased its stake in Semtech in the first quarter by 9.9%. State Street Corp owns now 3,776,310 of the semiconductor company’s stock, valued at $91,160,000. This is after purchasing an additional 338,702 shares. Macquarie Group Ltd. increased its stake in Semtech from 49.6% to 61.4% in the first quarter. Macquarie Group Ltd. owns 2,180.522 shares in the semiconductor company, valued at $52,638,000. This is after purchasing an additional 722,908 stocks during the period. Morgan Stanley increased its stake in Semtech in the fourth-quarter by 59.3%. Morgan Stanley owns now 1,924,955 of the semiconductor company stock, valued at $55,227,000. This is after purchasing an additional 716 294 shares. Institutional investors hold 96.32% the stock of the company.
Changes in Analyst Ratings
SMTC has been the subject of several research reports. Robert W. Baird reduced their target price for Semtech, from $48.00 down to $40.00. They also set an "outperform" rating in a Friday 31st research note. Benchmark reiterated its 'buy rating' and set a $45.00 price target on Semtech shares in a research report on Friday, 31st March. Northland Securities started covering Semtech on Tuesday, April 11, in a research report. They gave the company an 'outperform rating' and set a target price of $32.00. B. Riley reiterated its 'buy rating' and set a target price of $52.00 on Semtech shares in a research report on Thursday, 30th March. Stifel Nicolaus lowered their price target on Semtech to $32.00 from $37.00 in a report published on April 19th. They also assigned the company a 'buy rating'. Six analysts have given the stock a hold rating, and six others have given it a buy rating. MarketBeat data shows that Semtech currently has a consensus of 'Moderate buy' with a consensus target price of $37.10.
Semtech Company Profile
Semtech Corp. manufactures and supplies analog and mixed-signal semiconductor products for high end consumer, enterprise computing and communications equipment, as well as industrial equipment. The company operates in three business segments: Wireless & Sensing, Signal Integrity and Protection.
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