Northland Securities Forecasts Strong Price Appreciation for Semtech (NASDAQ:SMTC) Stock

Semtech (NASDAQ:SMTC) had its price objective lifted by Northland Securities from $46.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

A number of other research analysts have also commented on SMTC. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. B. Riley increased their price objective on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Stifel Nicolaus lifted their target price on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Susquehanna increased their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Finally, Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.70.

Semtech Price Performance

NASDAQ SMTC opened at $64.04 on Tuesday. The company’s fifty day moving average is $47.00 and its two-hundred day moving average is $39.47. Semtech has a 52-week low of $15.63 and a 52-week high of $66.64. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of -4.83 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. As a group, sell-side analysts expect that Semtech will post -0.07 earnings per share for the current fiscal year.

Institutional Trading of Semtech

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after buying an additional 131,133 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Semtech by 6.3% in the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 673 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Semtech by 128.3% during the third quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock worth $1,394,000 after purchasing an additional 17,150 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Semtech during the second quarter valued at approximately $13,239,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Semtech by 135.9% in the third quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock valued at $1,943,000 after purchasing an additional 24,517 shares in the last quarter.

Semtech Company Profile

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.