Analysts Set Semtech Co. (NASDAQ:SMTC) Price Target at $57.33

Semtech Co. (NASDAQ:SMTC) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $57.33.

SMTC has been the topic of a number of recent research reports. Craig Hallum dropped their price objective on shares of Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Piper Sandler reiterated an “overweight” rating and set a $55.00 price target (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. UBS Group lowered their price objective on Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Robert W. Baird dropped their target price on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, Benchmark decreased their price target on Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a report on Friday, March 14th.

Insider Transactions at Semtech

In other news, CFO Mark Lin sold 2,907 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the sale, the chief financial officer now directly owns 13,481 shares of the company’s stock, valued at approximately $508,368.51. This represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Semtech

A number of hedge funds and other institutional investors have recently bought and sold shares of SMTC. Hollencrest Capital Management purchased a new position in shares of Semtech during the 4th quarter valued at $31,000. Dunhill Financial LLC bought a new stake in Semtech during the fourth quarter valued at $31,000. NBC Securities Inc. boosted its stake in Semtech by 104,700.0% during the first quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 1,047 shares during the period. Smartleaf Asset Management LLC grew its position in Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after buying an additional 505 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in Semtech in the 4th quarter worth about $52,000.

Semtech Stock Performance

SMTC stock opened at $31.19 on Wednesday. The stock’s 50 day simple moving average is $32.89 and its 200 day simple moving average is $48.49. The company has a market cap of $2.70 billion, a P/E ratio of -2.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85. Semtech has a fifty-two week low of $24.05 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same period in the previous year, the company earned ($0.06) earnings per share. Semtech’s revenue for the quarter was up 30.1% compared to the same quarter last year. Equities analysts predict that Semtech will post -0.02 earnings per share for the current year.

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.