Semtech Likely To Report Q4 Loss; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Semtech Corporation (NASDAQ:SMTC) is anticipated to report a Q4 loss of 3 cents per share, contrasting with a profit of 47 cents per share in the same quarter last year. Despite the expected loss, revenue is projected to increase to $196.46 million from $167.51 million year-over-year. Following better-than-expected Q3 earnings, Semtech's shares rose 10.7% to close at $27.86. Analysts from Baird, Susquehanna, Stifel, Needham, and Benchmark have recently updated their ratings and price targets for Semtech, with most maintaining positive outlooks.
March 28, 2024 | 2:32 pm
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Semtech is expected to report a Q4 loss but with increased revenue. Shares have recently risen, and analysts maintain a positive outlook with updated price targets.
Despite the anticipated Q4 loss, the increase in revenue and positive adjustments in analyst ratings and price targets suggest a bullish outlook for Semtech. The recent share price increase post-Q3 earnings further supports this positive sentiment. The combination of these factors indicates a likely short-term positive impact on SMTC's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100