Semtech (NASDAQ:SMTC) Now Covered by Morgan Stanley

Stock analysts at Morgan Stanley began coverage on shares of Semtech (NASDAQ:SMTC) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set an “equal weight” rating and a $30.00 price target on the semiconductor company’s stock. Morgan Stanley’s target price points to a potential upside of 7.10% from the company’s previous close.

A number of other research firms also recently issued reports on SMTC. UBS Group decreased their target price on shares of Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Northland Securities boosted their price objective on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Semtech in a report on Friday, March 14th. Robert W. Baird decreased their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, Craig Hallum lowered their price objective on Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.92.

Semtech Stock Performance

Semtech stock opened at $28.01 on Monday. The business’s 50-day simple moving average is $41.67 and its two-hundred day simple moving average is $50.79. The company has a market cap of $2.42 billion, a PE ratio of -2.15, a PEG ratio of 2.12 and a beta of 1.85. Semtech has a fifty-two week low of $24.89 and a fifty-two week high of $79.52.

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

Insider Activity

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,417 shares in the company, valued at approximately $5,349,190. The trade was a 2.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now owns 14 shares in the company, valued at approximately $1,050. This trade represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,125 shares of company stock worth $905,394 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Semtech

Several large investors have recently added to or reduced their stakes in the stock. Moody National Bank Trust Division boosted its position in shares of Semtech by 147.7% during the 1st quarter. Moody National Bank Trust Division now owns 50,955 shares of the semiconductor company’s stock valued at $1,753,000 after acquiring an additional 30,387 shares during the last quarter. Versant Capital Management Inc raised its stake in Semtech by 58.5% during the first quarter. Versant Capital Management Inc now owns 1,498 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 553 shares during the period. California State Teachers Retirement System boosted its holdings in Semtech by 27.6% in the 4th quarter. California State Teachers Retirement System now owns 78,028 shares of the semiconductor company’s stock valued at $4,826,000 after purchasing an additional 16,860 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Semtech in the 4th quarter valued at approximately $15,131,000. Finally, Jefferies Financial Group Inc. increased its holdings in shares of Semtech by 62.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 77,659 shares of the semiconductor company’s stock worth $4,803,000 after buying an additional 29,723 shares during the last quarter.

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.