Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Semtech (NASDAQ:SMTC) had its price target raised by Stifel Nicolaus from $58.00 to $65.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 21.63% from the company’s current price.

Other research analysts also recently issued research reports about the company. Craig Hallum upped their price objective on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. Piper Sandler restated an “overweight” rating and set a $75.00 price objective (up previously from $60.00) on shares of Semtech in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target (up previously from $50.00) on shares of Semtech in a research report on Tuesday. Northland Securities increased their price objective on Semtech from $46.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, B. Riley raised their price objective on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.70.

Semtech Price Performance

Semtech stock opened at $53.44 on Tuesday. Semtech has a fifty-two week low of $15.63 and a fifty-two week high of $53.74. The firm has a fifty day moving average price of $45.83 and a two-hundred day moving average price of $38.96. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -3.94 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The company’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 EPS. As a group, sell-side analysts expect that Semtech will post -0.07 earnings per share for the current year.

Institutional Trading of Semtech

Hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank boosted its position in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 302 shares during the last quarter. Arizona State Retirement System grew its stake in Semtech by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock worth $540,000 after buying an additional 407 shares in the last quarter. Hanseatic Management Services Inc. increased its holdings in shares of Semtech by 3.2% in the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock worth $658,000 after buying an additional 447 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Semtech by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 461 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of Semtech by 3.4% during the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after acquiring an additional 588 shares during the last quarter.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.