Semtech (NASDAQ:SMTC - Get Free Report) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.34-0.40 for the period, compared to the consensus earnings per share estimate of $0.34. The company issued revenue guidance of $245-255 million, compared to the consensus revenue estimate of $250.92 million.
Analyst Upgrades and Downgrades
SMTC has been the subject of a number of analyst reports. B. Riley upped their price target on Semtech from $61.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Susquehanna raised their price objective on shares of Semtech from $55.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, November 21st. Benchmark boosted their target price on Semtech from $56.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. UBS Group assumed coverage on shares of Semtech in a research report on Friday, January 17th. They set a "buy" rating and a $85.00 price objective for the company. Finally, Stifel Nicolaus set a $60.00 price target on shares of Semtech in a research note on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.00.
Read Our Latest Report on SMTC
Semtech Price Performance
Shares of NASDAQ SMTC traded down $1.14 on Thursday, hitting $32.71. The company's stock had a trading volume of 3,059,426 shares, compared to its average volume of 2,785,086. The stock has a 50 day moving average of $52.84 and a 200-day moving average of $51.25. Semtech has a 12-month low of $21.56 and a 12-month high of $79.52. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -2.51, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69.
Semtech (NASDAQ:SMTC - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analysts' expectations of $249.40 million. During the same period in the previous year, the business posted ($0.06) EPS. The business's quarterly revenue was up 30.1% on a year-over-year basis. Sell-side analysts expect that Semtech will post -0.02 EPS for the current fiscal year.
Insider Buying and Selling at Semtech
In other Semtech news, CFO Mark Lin sold 10,890 shares of Semtech stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $34.68, for a total value of $377,665.20. Following the completion of the sale, the chief financial officer now 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the transaction, the senior vice president now owns 14 shares in the company, valued at approximately $1,050. The trade was a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,637 shares of company stock worth $1,472,726. Corporate insiders own 0.60% of the company's stock.
Semtech Company Profile
(
Get Free Report)
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.
See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Semtech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Semtech wasn't on the list.
While Semtech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.