Semtech Likely To Post Sharp Decline In Q2 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Semtech Corporation SMTC is expected to report its financial results for its second quarter of fiscal year 2024, after the closing bell on Sept. 13, 2023.

Analysts expect the company to post quarterly earnings at 2 cents per share, down from year-ago earnings of 87 cents per share. The company’s revenue might come in at $237.37 million, compared to $209.25 million in the year-ago period.

Semtech shares fell 2.7% to close at $22.72 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Needham analyst Quinn Bolton reiterated a Buy rating with a price target of $35 on Sept. 7, 2023. This analyst has an accuracy rate of 82%.
• Baird analyst Craig Ellis reiterated an Outperform rating with a price target of $40 on June 8, 2023. This analyst has an accuracy rate of 85%.
• Susquehanna analyst Christopher Rolland maintained a Neutral rating and cut the price target from $30 to $25 on June 1, 2023. This analyst has an accuracy rate of 75%.
• Stifel analyst Tore Svanberg maintained a Buy rating and cut the price target from $37 to $32 on April 19, 2023. This analyst has an accuracy rate of 81%.
• B. Riley Securities analyst Craig Kennison reiterated a Buy rating with a price target of $52 on March 30, 2023. This analyst has an accuracy rate of 71%.

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