Semtech Likely To Report Higher Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Core Viewpoint - Semtech Corporation is expected to report significant growth in earnings and revenue for its third quarter, with analysts projecting earnings of 45 cents per share and revenue of $266.42 million, indicating a year-over-year increase in both metrics [1]. Financial Performance - The anticipated earnings for the third quarter are 45 cents per share, up from 26 cents per share in the same period last year [1]. - The consensus estimate for quarterly revenue is $266.42 million, compared to $236.8 million a year earlier, reflecting a growth of approximately 12.5% [1]. Recent Developments - On October 8, Semtech announced a private offering of $350 million in new convertible senior notes and an exchange of existing notes [2]. - Following the announcement, Semtech shares experienced a decline of 3%, closing at $62.57 [2]. Analyst Ratings - Susquehanna analyst Christopher Rolland maintained a Positive rating and increased the price target from $65 to $80 [4]. - UBS analyst Timothy Arcuri maintained a Buy rating and raised the price target from $65 to $85 [4]. - Oppenheimer analyst Rick Schafer upgraded the stock from Perform to Outperform with a price target of $81 [4]. - Benchmark analyst Cody Acree maintained a Buy rating and increased the price target from $68 to $76 [4]. - Piper Sandler analyst Harsh Kumar maintained an Overweight rating and raised the price target from $55 to $65 [4].