Semtech (NASDAQ:SMTC) Price Target Raised to $85.00 at B. Riley

Semtech (NASDAQ:SMTC) had its target price increased by B. Riley from $61.00 to $85.00 in a report published on Tuesday,Benzinga reports. B. Riley currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also recently weighed in on the company. Northland Securities lifted their target price on Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday. Susquehanna lifted their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Benchmark reissued a “buy” rating and issued a $56.00 price target on shares of Semtech in a research note on Monday, October 7th. Craig Hallum boosted their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.70.

Semtech Trading Down 0.2 %

Shares of SMTC opened at $64.04 on Tuesday. Semtech has a 1-year low of $15.63 and a 1-year high of $66.64. The stock has a market capitalization of $4.82 billion, a P/E ratio of -4.83 and a beta of 1.54. The business’s 50-day moving average price is $47.00 and its 200 day moving average price is $39.47.

Semtech (NASDAQ:SMTC) last released its earnings results 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. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. During the same quarter in the previous year, the business posted $0.02 EPS. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, research analysts predict that Semtech will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On Semtech

A number of hedge funds have recently bought and sold shares of SMTC. Geode Capital Management LLC lifted its position in shares of Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after purchasing an additional 119,572 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Semtech by 4.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after purchasing an additional 114,999 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Semtech during the 3rd quarter valued at approximately $763,000. Wellington Management Group LLP bought a new stake in Semtech during the 3rd quarter valued at approximately $10,556,000. Finally, Whale Rock Capital Management LLC bought a new stake in Semtech during the 3rd quarter valued at approximately $32,126,000.

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.