Semtech (SMTC) Upgraded to Strong-Buy by ValuEngine

Semtech (NASDAQ:SMTC) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Semtech from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Zacks Investment Research raised shares of Semtech from a “sell” rating to a “hold” rating in a research report on Friday, February 1st. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price objective on shares of Semtech in a research report on Thursday, November 29th. B. Riley reaffirmed a “buy” rating and issued a $61.00 target price (up previously from $58.00) on shares of Semtech in a report on Thursday, November 29th. Finally, Roth Capital set a $62.00 target price on shares of Semtech and gave the company a “buy” rating in a report on Thursday, November 29th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Semtech currently has a consensus rating of “Buy” and an average price target of $59.82.

Shares of SMTC opened at $54.70 on Friday. The firm has a market cap of $3.51 billion, a PE ratio of 39.07, a P/E/G ratio of 2.39 and a beta of 1.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.53 and a current ratio of 4.03. Semtech has a 1-year low of $32.35 and a 1-year high of $60.55.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, November 28th. The semiconductor company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Semtech had a net margin of 7.97% and a return on equity of 14.23%. The firm had revenue of $173.60 million during the quarter, compared to the consensus estimate of $173.06 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts anticipate that Semtech will post 1.56 EPS for the current fiscal year.

In other Semtech news, CFO Emeka Chukwu sold 1,100 shares of the stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $50.00, for a total transaction of $55,000.00. Following the transaction, the chief financial officer now owns 88,230 shares in the company, valued at $4,411,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James Jungsup Kim sold 2,500 shares of the firm’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $52.00, for a total transaction of $130,000.00. Following the completion of the sale, the senior vice president now owns 41,225 shares in the company, valued at approximately $2,143,700. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,040 shares of company stock valued at $8,365,943. Insiders own 2.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of SMTC. Pearl River Capital LLC purchased a new stake in shares of Semtech in the 4th quarter worth approximately $25,000. Cutler Group LP bought a new position in Semtech in the 4th quarter worth $27,000. Enlightenment Research LLC bought a new position in Semtech in the 4th quarter worth $28,000. IFP Advisors Inc raised its holdings in Semtech by 44.7% in the 4th quarter. IFP Advisors Inc now owns 1,010 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 312 shares during the period. Finally, NumerixS Investment Technologies Inc purchased a new stake in Semtech in the 4th quarter worth $60,000. 97.41% of the stock is owned by hedge funds and other institutional investors.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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