Semtech Likely To Report Q4 Loss; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Semtech Corporation SMTC is expected to release earnings results for its fourth quarter, after the closing bell on March 28, 2024.

Analysts expect the Camarillo, California-based company to report a quarterly loss at 3 cents per share, versus a year-ago profit of 47 cents per share in the year-ago quarter. Semtech is projected to report quarterly revenue of $196.46 million, compared to $167.51 million in the year-earlier period, according to data from Benzinga Pro.

On Dec. 3, Semtech posted better-than-expected third-quarter earnings.

Semtech shares gained 10.7% to close at $27.86 on Wednesday.

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.

• Baird analyst Craig Ellis maintained an Outperform rating with a price target of $40 on March 26, 2024. This analyst has an accuracy rate of 83%.
• Susquehanna analyst Christopher Rolland maintained a Positive rating and raised the price target from $25 to $30 on March 14, 2024. This analyst has an accuracy rate of 80%.
• Stifel analyst Tore Svanberg maintained a Buy rating and boosted the price target from $22 to $26 on Jan. 2, 2024. This analyst has an accuracy rate of 76%.
• Needham analyst Quinn Bolton maintained a Buy rating and lowered the price target from $35 to $26 on Dec. 7, 2023. This analyst has an accuracy rate of 83%.
• Benchmark analyst Cody Acree upgraded the stock from Hold to Buy with a price target of $30 on Oct. 19, 2023. This analyst has an accuracy rate of 77%.

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