Semtech Co. (NASDAQ:SMTC) has been assigned an average rating of “Buy” from the nine ratings firms that are currently covering the firm. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $41.60.
Several research analysts have commented on SMTC shares. Royal Bank of Canada restated a “hold” rating and issued a $32.00 price objective on shares of Semtech in a report on Tuesday, January 3rd. B. Riley restated a “buy” rating and issued a $37.00 price objective on shares of Semtech in a report on Monday, January 9th. Summit Redstone reiterated a “buy” rating on shares of Semtech in a research note on Thursday, January 19th. DA Davidson increased their price target on shares of Semtech from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, March 9th. Finally, Drexel Hamilton reissued a “buy” rating and set a $42.00 price objective (up from $35.00) on shares of Semtech in a research report on Thursday, March 9th.
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Semtech (NASDAQ:SMTC) traded down 0.811% during midday trading on Wednesday, reaching $33.625. The company’s stock had a trading volume of 181,794 shares. Semtech has a 52 week low of $20.09 and a 52 week high of $37.35. The firm has a 50 day moving average price of $33.56 and a 200-day moving average price of $30.96. The firm has a market cap of $2.22 billion, a P/E ratio of 40.512 and a beta of 1.40.
Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, March 8th. The semiconductor company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The business earned $140 million during the quarter, compared to analysts’ expectations of $138.34 million. Semtech had a net margin of 9.16% and a return on equity of 10.40%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 EPS. On average, analysts forecast that Semtech will post $1.78 earnings per share for the current fiscal year.
In other Semtech news, VP Marc Pegulu sold 1,000 shares of Semtech stock in a transaction on Monday, March 27th. The shares were sold at an average price of $34.50, for a total transaction of $34,500.00. Following the completion of the transaction, the vice president now directly owns 11,894 shares of the company’s stock, valued at $410,343. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mohan Maheswaran sold 1,500 shares of Semtech stock in a transaction on Monday, April 17th. The stock was sold at an average price of $32.00, for a total transaction of $48,000.00. Following the transaction, the insider now directly owns 198,311 shares of the company’s stock, valued at $6,345,952. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,727 shares of company stock worth $1,248,666. 2.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Japan Co. Ltd raised its stake in shares of Semtech by 82.3% in the third quarter. BlackRock Japan Co. Ltd now owns 3,720 shares of the semiconductor company’s stock worth $103,000 after buying an additional 1,679 shares in the last quarter. Tyers Asset Management LLC bought a new stake in shares of Semtech during the fourth quarter worth about $123,000. Asset Management One Co. Ltd. bought a new stake in shares of Semtech during the fourth quarter worth about $135,000. Intellectus Partners LLC bought a new stake in shares of Semtech during the fourth quarter worth about $136,000. Finally, Flinton Capital Management LLC bought a new stake in shares of Semtech during the fourth quarter worth about $157,000. 96.74% of the stock is owned by institutional investors.
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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