Semtech Corporation SMTC is scheduled to unveil its fourth-quarter earnings post-market close on March 28, 2024.
Market analysts anticipate the Camarillo, California entity to declare a quarterly loss of 3 cents per share, a stark contrast to the 47 cents per share profit reported in the corresponding quarter the previous year. Revenue is forecasted at $196.46 million for the quarter, a boost from $167.51 million reported a year ago, as per insights from Benzinga Pro.
Semtech had enjoyed a notable performance in the third quarter, surpassing analyst predictions.
On Wednesday, Semtech’s shares surged by 10.7%, wrapping up the trading day at $27.86.
For further insights, Benzinga offers access to the latest analyst ratings on the Analyst Stock Ratings page, allowing readers to sort by ticker symbol, company name, analyst firm, rating changes, and other variables.
Diving into the evaluations by Benzinga’s top-tier analysts reveals:
- Baird analyst Craig Ellis maintained an Outperform rating with a price target of $40 on March 26, 2024, boasting an 83% accuracy rate.
- Susquehanna analyst Christopher Rolland upheld a Positive rating and increased the price target from $25 to $30 on March 14, 2024, with an accuracy rate of 80%.
- Stifel analyst Tore Svanberg retained a Buy rating and raised the price target from $22 to $26 on January 2, 2024, demonstrating a 76% accuracy rate.
- Needham analyst Quinn Bolton sustained a Buy rating and adjusted the price target from $35 to $26 on December 7, 2023, holding an accuracy rate of 83%.
- Benchmark analyst Cody Acree upgraded the stock from Hold to Buy with a price target of $30 on October 19, 2023, showcasing a 77% accuracy rate.
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