Semtech Co. (NASDAQ:SMTC) Receives $71.09 Average Target Price from Analysts

Shares of Semtech Co. (NASDAQ:SMTC) have been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $67.91.

Several brokerages have issued reports on SMTC. Craig Hallum increased their price target on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Benchmark upped their price target on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Roth Mkm raised their price objective on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Northland Securities boosted their price objective on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC lowered their target price on Semtech from $74.00 to $54.00 and set a “buy” rating for the company in a report on Monday.

Insider Buying and Selling

In related news, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Lin sold 2,990 shares of Semtech stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $59.45, for a total value of $177,755.50. Following the transaction, the chief financial officer now owns 5,446 shares of the company’s stock, valued at $323,764.70. The trade was a 35.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,747 shares of company stock worth $1,095,061. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Semtech

A number of hedge funds have recently made changes to their positions in the business. Huntington National Bank raised its stake in Semtech by 105.2% in the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 302 shares during the period. Hollencrest Capital Management acquired a new position in shares of Semtech in the fourth quarter valued at $31,000. Smartleaf Asset Management LLC raised its position in shares of Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 505 shares during the period. NBC Securities Inc. lifted its stake in shares of Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after buying an additional 739 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Semtech by 173.5% during the 4th quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after buying an additional 772 shares during the last quarter.

Semtech Trading Up 1.5 %

Shares of SMTC opened at $38.18 on Friday. The stock has a market cap of $2.89 billion, a P/E ratio of -2.93, a price-to-earnings-growth ratio of 2.98 and a beta of 1.64. The stock’s 50-day moving average price is $64.77 and its two-hundred day moving average price is $50.85. Semtech has a 1 year low of $19.12 and a 1 year high of $79.52.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating 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. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 EPS.

Semtech Company Profile

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.