Semtech Co. (NASDAQ:SMTC) Receives $61.55 Consensus Target Price from Brokerages

Shares of Semtech Co. (NASDAQ:SMTC) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $61.55.

A number of equities analysts have recently weighed in on SMTC shares. Robert W. Baird lowered their target price on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Semtech in a research note on Friday, March 14th. Stifel Nicolaus decreased their target price on shares of Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Benchmark lowered their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, Craig Hallum decreased their price objective on Semtech from $70.00 to $55.00 and set a “buy” rating for the company in a report on Friday, March 14th.

Semtech Trading Up 5.0 %

NASDAQ:SMTC opened at $36.62 on Friday. Semtech has a 12 month low of $27.25 and a 12 month high of $79.52. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -2.81, a PEG ratio of 2.12 and a beta of 1.69. The firm has a fifty day simple moving average of $43.50 and a two-hundred day simple moving average of $50.91.

Semtech (NASDAQ:SMTC) last issued its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The business’s quarterly revenue was up 30.1% on a year-over-year basis. Equities analysts predict that Semtech will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Semtech

In other Semtech news, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $100,350.00. Following the completion of the transaction, the senior vice president now directly owns 14 shares of the company’s stock, valued at approximately $1,050. This represents a 98.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Lin sold 1,359 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total value of $88,538.85. Following the completion of the sale, the chief financial officer now owns 4,164 shares in the company, valued at approximately $271,284.60. The trade was a 24.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,484 shares of company stock worth $993,933 in the last quarter. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Semtech

Large investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new position in shares of Semtech in the fourth quarter worth about $31,000. Dunhill Financial LLC purchased a new position in Semtech in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC raised its holdings in Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 505 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Semtech during the fourth quarter worth $52,000. Finally, AlphaQuest LLC boosted its holdings in shares of Semtech by 173.5% in the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 772 shares during the period.

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.