Semtech Likely To Post Sharp Decline In Q2 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Lisa Levin
Semtech Corporation (NASDAQ:SMTC) is expected to report a sharp decline in its Q2 earnings for fiscal year 2024, with analysts predicting earnings of 2 cents per share, down from 87 cents per share in the previous year. Despite this, the company's revenue is expected to increase to $237.37 million from $209.25 million. Semtech's shares fell 2.7% to close at $22.72 on Tuesday. Several analysts have recently adjusted their price targets for the company, with the most accurate analysts predicting targets ranging from $25 to $52.
September 13, 2023 | 2:42 pm
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Semtech is expected to report a significant drop in Q2 earnings, which could negatively impact its stock price. However, the expected increase in revenue and the recent price target adjustments by analysts could potentially offset this impact.
The expected sharp decline in Semtech's Q2 earnings is likely to negatively impact investor sentiment and could lead to a drop in the company's stock price. However, the expected increase in revenue and the recent price target adjustments by analysts, which range from $25 to $52, could potentially offset this negative impact. The fact that the company's shares already fell 2.7% on Tuesday suggests that some of this news may already be priced in.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100