Selected stock price target news of the day - April 2nd, 2024

By: Matthew Otto

Semtech Reports Financial Performance for Fiscal Year 2024, Eyes Growth Opportunities Ahead

Semtech unveiled its financial results for the fourth quarter and fiscal year 2024, which concluded on January 28, 2024. The company reported net sales of $192.9 million for the fourth quarter, surpassing the midpoint of its guidance. Additionally, operating cash flow of $13.9 million and free cash flow of $12.2 million.

Fiscal year 2024, Semtech achieved net sales of $868.8 million, with a GAAP gross margin of 34.1% and a Non-GAAP gross margin of 49.5%. While GAAP diluted loss per share stood at $17.03, Non-GAAP diluted earnings per share reached $0.14. Notably, Semtech incurred significant goodwill and intangible asset impairment charges during the year, amounting to $755.6 million and $131.4 million, respectively.

Semtech has provided an outlook for the first quarter of fiscal year 2025, projecting net sales of $200.0 million with a gross margin of 49.5%.

Analysts Remain Bullish with Price Target Increases Across the Board

Northland Capital Markets analyst Gus Richard maintained an Outperform rating and raised the price target from $30 to $36.5.
Craig-Hallum Analyst Anthony Stoss maintained a Buy rating and raised the price target from $30 to $36.
Baird Analyst Craig Ellis reiterated an Outperform rating and increased the price target from $40 to $50.
Stifel analyst Tore Svanberg reiterated a Buy rating and increased the price target from $26 to $31.
Piper Sandler analyst Harsh Kumar reiterated an Overweight rating and raised the price target from $30 to $40.
Susquehanna analyst Christopher Rolland maintained a Positive rating and raised the price target from $30 to $45.

Which Analyst has the best track record to show on SMTC?

Analyst Christopher Rolland (SUSQUEHANNA) currently has the highest performing score on SMTC with 11/15 (73.33%) price target fulfillment ratio. His price targets carry an average of $15.63 (53.22%) potential upside. Semtech stock price reaches these price targets on average within 50 days.

PVH After Sales Warning, Forecasts 11% Revenue Drop

PVH anticipates an 11% decline in revenue for its first fiscal quarter, projecting it to hit $1.92 billion, a significant miss compared to analysts’ consensus of $2.08 billion. Furthermore, PVH expects a broader fiscal year revenue downturn of 6% to 7%, citing challenges posed by a harsher macroeconomic landscape in 2024.

PVH reported upbeat fourth-quarter results, with adjusted earnings per share reaching $3.72, surpassing Wall Street’s forecast of $3.53. Quarterly revenue also exceeded expectations, standing at $2.49 billion compared to estimates of $2.42 billion. TD Cowen analyst John Kernan, who had recently upgraded PVH, expressed disappointment over the -6% to -7% revenue projection for the fiscal year, maintaining a Buy rating with a price target of $165. Conversely, Guggenheim analysts revised their price target upward to $140 from $120, emphasizing the potential of PVH’s strategic growth plan, PVH+, despite the prevailing challenges.

Analysts Ratings and Price Targets Adjusted Amid Market Turbulence

Wells Fargo analyst Ike Boruchow maintained an Overweight rating yet lowered the price target from $150 to $138.
Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating and a $155 price target.

Which Analyst has the best track record to show on PVH?

Analyst Kimberly Greenberger (MORGAN STANLEY) currently has the highest performing score on PVH with 15/18 (83.33%) price target fulfillment ratio. His price targets carry an average of $0.44 (0.44%) potential upside. PVH stock price reaches these price targets on average within 343 days.

Oxford Industries Reports Fiscal 2023 Results, Anticipates Growth Amidst Investment Surge

Oxford Industries unveiled its fiscal performance for the fourth quarter and full-year 2023, revealing a growth trajectory. The consolidated net sales skyrocketed by 11% to $1.57 billion, supported by an expansion in adjusted gross margin to 64%, up by 50 basis points. Conversely, adjusted SG&A expenses surged to $807 million from $684 million in the previous year, reflecting investments in various operational facets. Looking forward to fiscal 2024, Oxford Industries anticipates mid-single-digit top-line growth and plans to allocate approximately $200 million toward capital expenditures.

Analysts Downgrades and Adjusts Price Targets

Citigroup analyst Paul Lejeuz downgraded rating from Neutral to Sell and the price target from $98 to $94.
UBS analyst Mauricio Serna maintained a Neutral rating yet lowered the price target from $106 to $104.
Telsey analyst Dana Telsey maintained Market Perform rating and upgraded the price target from $102 to $110.

Which Analyst has the best track record to show on OXM?

Analyst Paul Lejuez (CITI) currently has the highest performing score on OXM with 10/11 (90.91%) price target fulfillment ratio. His price targets carry an average of $-14.28 (-13.19%) potential downgrade. Oxford Industries stock price reaches these price targets on average within 124 days.