Benchmark Initiates Coverage On Semtech with Buy Rating, Announces Price Target of $81
Benchmark analyst Cody Acree initiates coverage on Semtech (NASDAQ:SMTC) with a Buy rating and announces Price Target of $81.
Looking Into Semtech’s Return On Capital Employed
According to Benzinga Pro, during Q1, Semtech (NASDAQ:SMTC) earned $38.05 million, a 9.36% increase from the preceding quarter. Semtech also posted a total of $202.15 million in sales, a 6.09% increase since Q4.
B. Riley Securities Downgrades Semtech to Neutral, Lowers Price Target to $65
B. Riley Securities analyst Craig Ellis downgrades Semtech (NASDAQ:SMTC) from Buy to Neutral and lowers the price target from $87 to $65.
Needham Maintains Buy on Semtech, Lowers Price Target to $75
Needham analyst Quinn Bolton maintains Semtech (NASDAQ:SMTC) with a Buy and lowers the price target from $85 to $75.
Semtech Sees Q2 Adj. EPS $0.80-$0.90 vs $0.83 Est.. Sales $203M-$213M vs $210.23M Est.
GAAP Second Fiscal Quarter 2023 Outlook
Net sales are expected to be in the range of $203.0 million to $213.0 million
GAAP Gross margin is expected to be in the range of 64.1% to 65.5%
GAAP SG&A expense is
Semtech Q1 Adj. EPS $0.80 Beats $0.76 Estimate, Sales $202.10M Miss $202.86M Estimate
Semtech (NASDAQ:SMTC) reported quarterly earnings of $0.80 per share which beat the analyst consensus estimate of $0.76 by 5.26 percent. This is a 50.94 percent increase over earnings of $0.53 per share from the same
Where Semtech Stands With Analysts
Analysts have provided the following ratings for Semtech (NASDAQ:SMTC) within the last quarter:
Susquehanna Maintains Neutral on Semtech, Lowers Price Target to $72
Susquehanna analyst Christopher Rolland maintains Semtech (NASDAQ:SMTC) with a Neutral and lowers the price target from $75 to $72.
Earnings Scheduled For June 1, 2022
Companies Reporting Before The Bell
• Affimed (NASDAQ:AFMD) is projected to report quarterly loss at $0.19 per share on revenue of $10.05 million.