Semtech Co. (NASDAQ:SMTC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Semtech Co. (NASDAQ:SMTC) has been given an average rating of “Moderate Buy” by the twelve analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $68.70.

SMTC has been the topic of several analyst reports. Susquehanna lifted their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Northland Securities upped their target price on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. B. Riley raised their price target on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Benchmark upped 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. Finally, Roth Mkm lifted their target price on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 25th.

Semtech Trading Up 2.6 %

Semtech stock opened at $64.49 on Thursday. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of -4.94 and a beta of 1.65. The firm’s fifty day moving average price is $54.84 and its two-hundred day moving average price is $42.90. Semtech has a 1-year low of $18.16 and a 1-year high of $70.27.

Semtech (NASDAQ:SMTC) last announced its quarterly 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. The business had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS. On average, research analysts forecast that Semtech will post -0.01 EPS for the current year.

Insider Buying and Selling at Semtech

In other Semtech news, CFO Mark Lin sold 6,114 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the transaction, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. This trade represents a 63.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Imran Sherazi sold 2,946 shares of the business’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 transaction of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares in the company, valued at approximately $399,866.10. This trade represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Semtech

Institutional investors have recently made changes to their positions in the stock. Huntington National Bank grew its holdings in 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 buying an additional 302 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Semtech during the second quarter valued at approximately $44,000. Canada Pension Plan Investment Board bought a new stake in Semtech during the 2nd quarter worth approximately $60,000. NBC Securities Inc. lifted its stake in Semtech by 115.8% in the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 739 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Semtech during the 2nd quarter valued at $63,000.

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.