Semtech Co. (NASDAQ:SMTC) Receives $48.90 Average PT from Brokerages

Shares of Semtech Co. (NASDAQ:SMTC) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $48.90.

A number of research firms have recently weighed in on SMTC. Susquehanna raised their target price on Semtech from $45.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, June 6th. Roth Mkm raised their price objective on Semtech from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Piper Sandler reiterated an “overweight” rating and issued a $60.00 target price (up previously from $40.00) on shares of Semtech in a research note on Wednesday, May 29th. Stifel Nicolaus raised their price target on shares of Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Northland Securities upped their price objective on shares of Semtech from $36.50 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin bought 1,000 shares of the stock in a transaction on Monday, April 8th. The shares were purchased at an average cost of $33.23 per share, for a total transaction of $33,230.00. Following the completion of the purchase, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $33,230. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Semtech

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Semtech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after buying an additional 131,133 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Semtech by 58.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock valued at $101,927,000 after purchasing an additional 1,466,665 shares during the period. Kodai Capital Management LP lifted its holdings in Semtech by 2.7% during the 1st quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock worth $56,075,000 after purchasing an additional 54,267 shares in the last quarter. Contour Asset Management LLC boosted its stake in Semtech by 2.6% in the 4th quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock worth $32,072,000 after purchasing an additional 36,838 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Semtech by 81.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,369,043 shares of the semiconductor company’s stock valued at $29,996,000 after buying an additional 613,274 shares in the last quarter.

Semtech Price Performance

Shares of SMTC opened at $29.88 on Thursday. The business’s fifty day moving average is $35.76 and its 200 day moving average is $27.64. Semtech has a 12-month low of $13.13 and a 12-month high of $46.86. The company has a quick ratio of 1.74, a current ratio of 2.40 and a debt-to-equity ratio of 4.11. The stock has a market cap of $1.93 billion, a P/E ratio of -1.77 and a beta of 1.63.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, June 5th. The semiconductor company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). Semtech had a negative net margin of 129.52% and a negative return on equity of 154.99%. The firm had revenue of $206.11 million for the quarter, compared to analyst estimates of $200.16 million. Sell-side analysts anticipate that Semtech will post -0.03 earnings per share for the current fiscal year.

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.