Semtech (SMTC) Projected to Post Quarterly Earnings on Thursday

Semtech (NASDAQ:SMTC) is expected to be announcing its earnings results after the market closes on Thursday, March 13th. Analysts expect the company to announce earnings of $0.32 per share and revenue of $249.40 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Semtech Trading Up 2.4 %

NASDAQ SMTC opened at $32.20 on Wednesday. The business’s 50-day moving average price is $53.40 and its 200 day moving average price is $51.37. Semtech has a twelve month low of $21.56 and a twelve month high of $79.52. The company has a market capitalization of $2.44 billion, a PE ratio of -2.47, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69.

Insiders Place Their Bets

In other Semtech news, CFO Mark Lin sold 10,890 shares of Semtech stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total transaction of $377,665.20. Following the sale, the chief financial officer now directly owns 11,625 shares in the company, valued at $403,155. The trade was a 48.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of Semtech stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the sale, the senior vice president now owns 6,317 shares in the company, valued at $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,637 shares of company stock worth $1,472,726 in the last three months. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

SMTC has been the topic of a number of research reports. Robert W. Baird cut their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Roth Mkm raised their price objective on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Benchmark raised their price objective on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Susquehanna raised their price objective on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Finally, B. Riley raised their price objective on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.91.

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.