Semtech (NASDAQ:SMTC) Now Covered by Analysts at UBS Group

Equities researchers at UBS Group assumed coverage on shares of Semtech (NASDAQ:SMTC) in a research note issued to investors on Friday,Benzinga reports. The brokerage set a “buy” rating and a $85.00 price target on the semiconductor company’s stock. UBS Group’s price objective would indicate a potential upside of 23.31% from the company’s previous close.

Several other research firms have also recently issued reports on SMTC. Benchmark lifted their price objective on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. B. Riley upped their price objective on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Susquehanna raised their target price on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Stifel Nicolaus boosted their target price on Semtech from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC increased their price target on shares of Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.09.

Semtech Price Performance

SMTC opened at $68.93 on Friday. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of -5.28 and a beta of 1.65. The business has a fifty day moving average price of $61.24 and a 200 day moving average price of $46.76. Semtech has a 12 month low of $18.16 and a 12 month high of $73.96.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $236.80 million during 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 business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share.

Insider Activity

In related news, CFO Mark Lin sold 1,359 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $65.15, for a total transaction of $88,538.85. Following the transaction, the chief financial officer now owns 4,164 shares of the company’s stock, valued at $271,284.60. This trade represents a 24.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Imran Sherazi sold 2,946 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the sale, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,419 shares of company stock valued at $676,955 in the last ninety days. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Huntington National Bank lifted its holdings in shares of Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares during the period. GAMMA Investing LLC lifted its stake in shares of Semtech by 15.3% in the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock worth $196,000 after acquiring an additional 421 shares during the period. Hanseatic Management Services Inc. lifted its stake 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 acquiring an additional 447 shares during the period. Creative Planning boosted its holdings in shares of Semtech by 3.4% in the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock valued at $538,000 after acquiring an additional 588 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in shares of Semtech by 6.3% during 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 period.

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.