Stifel Nicolaus Issues Positive Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its price objective raised by investment analysts at Stifel Nicolaus from $65.00 to $75.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 15.12% from the company’s current price.

SMTC has been the subject of several other research reports. Needham & Company LLC upped their price target on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Craig Hallum upped their price objective on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Susquehanna lifted their target price on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Benchmark increased their price target on shares of Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Roth Mkm lifted their price objective on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.70.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $65.15 on Monday. The stock has a market cap of $4.93 billion, a P/E ratio of -4.99 and a beta of 1.65. Semtech has a 1-year low of $18.16 and a 1-year high of $70.27. The firm has a fifty day moving average price of $58.28 and a 200 day moving average price of $45.13.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to analyst estimates 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 was up 17.9% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. Sell-side analysts expect that Semtech will post -0.01 EPS for the current fiscal year.

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin sold 6,114 shares of Semtech 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 approximately $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Imran Sherazi sold 2,946 shares of the 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 owns 6,317 shares in the company, valued at $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 quarter. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Semtech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Disciplined Growth Investors Inc. MN raised its holdings in shares of Semtech by 343.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after acquiring an additional 1,932,116 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Semtech during the 2nd quarter worth about $43,395,000. Millennium Management LLC raised its stake in Semtech by 26.6% in the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after purchasing an additional 765,877 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in Semtech in the 3rd quarter valued at about $32,126,000. Finally, Clearline Capital LP boosted its stake in shares of Semtech by 143.1% during the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock worth $26,863,000 after purchasing an additional 529,194 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.