Semtech Co. (NASDAQ:SMTC) Receives $83.27 Consensus Price Target from Brokerages

Semtech Co. (NASDAQ:SMTCGet Rating) has received an average recommendation of “Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $81.55.

A number of brokerages have commented on SMTC. StockNews.com began coverage on shares of Semtech in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Needham & Company LLC reduced their target price on shares of Semtech from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, March 17th. Stifel Nicolaus reduced their target price on shares of Semtech from $102.00 to $95.00 in a research note on Thursday, March 17th. Zacks Investment Research lowered shares of Semtech from a “strong-buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research note on Tuesday. Finally, Susquehanna raised their target price on shares of Semtech from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, March 17th.

In other Semtech news, SVP Christopher H. Chang sold 6,950 shares of the stock in a transaction on Monday, March 28th. The stock was sold at an average price of $70.57, for a total transaction of $490,461.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Emeka Chukwu sold 3,750 shares of the stock in a transaction on Friday, February 18th. The stock was sold at an average price of $69.68, for a total value of $261,300.00. The disclosure for this sale can be found here. Insiders sold 48,700 shares of company stock valued at $3,340,692 over the last three months. 1.30% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of SMTC. Morgan Stanley increased its position in Semtech by 117.6% during the 2nd quarter. Morgan Stanley now owns 104,062 shares of the semiconductor company’s stock worth $7,158,000 after buying an additional 56,242 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Semtech by 198.3% in the third quarter. PNC Financial Services Group Inc. now owns 6,022 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 4,003 shares during the period. Advisor Group Holdings Inc. increased its position in shares of Semtech by 9.1% in the third quarter. Advisor Group Holdings Inc. now owns 3,189 shares of the semiconductor company’s stock worth $248,000 after purchasing an additional 266 shares during the period. Truist Financial Corp bought a new position in shares of Semtech in the third quarter worth $236,000. Finally, Mackenzie Financial Corp increased its position in shares of Semtech by 54.9% in the third quarter. Mackenzie Financial Corp now owns 4,565 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 1,618 shares during the period. Hedge funds and other institutional investors own 96.33% of the company’s stock.

Semtech stock traded up $2.04 during mid-day trading on Friday, reaching $61.35. The company had a trading volume of 2,932 shares, compared to its average volume of 420,863. Semtech has a 52 week low of $56.00 and a 52 week high of $94.92. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 1.46 and a beta of 1.54. The company has a quick ratio of 3.02, a current ratio of 3.91 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $63.96 and a 200-day moving average of $74.74.

Semtech (NASDAQ:SMTCGet Rating) last announced its earnings results on Wednesday, March 16th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. Semtech had a net margin of 16.96% and a return on equity of 17.89%. The business had revenue of $190.60 million during the quarter, compared to analysts’ expectations of $189.34 million. During the same quarter last year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts predict that Semtech will post 2.76 earnings per share for the current fiscal year.

About Semtech (Get Rating)

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.

Featured Articles

Analyst Recommendations for Semtech (NASDAQ:SMTC)

Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.