Analysts Set Semtech Co. (NASDAQ:SMTC) PT at $52.60

Shares of Semtech Co. (NASDAQ:SMTC) have received a consensus rating of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $52.60.

A number of equities analysts have recently issued reports on the stock. Craig Hallum increased their price objective on shares of Semtech from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Roth Mkm reissued a “buy” rating and issued a $50.00 price target on shares of Semtech in a research report on Wednesday, August 28th. StockNews.com raised Semtech from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th.

Hedge Funds Weigh In On Semtech

Institutional investors and hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new position in shares of Semtech during the first quarter worth approximately $27,000. Ridgewood Investments LLC acquired a new position in Semtech during the 2nd quarter worth $44,000. GAMMA Investing LLC boosted its position in Semtech by 83.9% in the 1st quarter. GAMMA Investing LLC now owns 1,694 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 773 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Semtech by 205.0% in the 1st quarter. Versant Capital Management Inc now owns 1,873 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 1,259 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Semtech during the second quarter worth $60,000.

Semtech Stock Down 0.3 %

Shares of SMTC opened at $40.59 on Tuesday. The stock’s 50-day moving average price is $35.22 and its 200 day moving average price is $32.92. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of -2.40 and a beta of 1.54. Semtech has a 12-month low of $13.13 and a 12-month high of $46.86.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. Semtech’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) earnings per share. Equities research analysts expect that Semtech will post -0.07 EPS for the current 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.