Semtech (SMTC) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Wednesday, August 24, 2021 5:05 PM

Semtech (SMTC) announced its quarterly results on Wednesday. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $0.46 by $0.03. The company’s quarterly revenue was up 15.1% on a year-over-year basis.

On a related note, analysts at Oppenheimer (NYSE: OPY) cut their price target on shares of Semtech from $35.00 to $30.00 in a research note to investors on Tuesday. They now have an "outperform" rating on the stock. Also, analysts at Goldman Sachs (NYSE: GS) raised their price target on shares of Semtech to $28.00 in a research note to investors on Thursday, May 26th. They now have a "neutral" rating on the stock.

Shares of Semtech (SMTC) traded down 1.31% during mid-day trading on Wednesday, hitting $20.40. Semtech (SMTC) has a 52 week low of $16.15 and a 52 week high of $29.47. The stock's 50-day moving average is $23.47 and its 200-day moving average is $24.9. The company has a market cap of $1.334 billion and a price-to-earnings ratio of 16.05.

Semtech Corporation (Semtech) is a supplier of analog and mixed-signal semiconductor products. The Company designs, produces and markets a range of products that are sold into applications within the consumer, industrial, computing and communications end-markets. Its product range includes Power Management Products, Protection Products Advanced Communication and Sensing Products, Transport and Datacom Products and Microwave and High-Reliability Products. On February 6, 2009, Semtech acquired certain assets consisting of a business line from Leadis Technology Inc. On December 9, 2009, the Company acquired all outstanding equity interests of Sierra Monolithics, Inc. (SMI), a supplier of analog and mixed-signal integrated circuit solutions for optical communications, wireless and microwave/millimeter wave applications.

Stay on top of analysts' coverage with American Banking & Market News' daily email newsletter that provides a concise list of analysts' upgrades, analysts' downgrades and analysts' price target changes for each day.Click here to register.