Roth Mkm Raises Semtech (NASDAQ:SMTC) Price Target to $60.00

Semtech (NASDAQ:SMTC) had its target price raised by Roth Mkm from $50.00 to $60.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the stock. Susquehanna lifted their target price on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Stifel Nicolaus upped their target price on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Benchmark restated a “buy” rating and set a $56.00 price target on shares of Semtech in a research report on Monday, October 7th. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, B. Riley increased their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.70.

Semtech Trading Up 1.7 %

Semtech stock opened at $64.20 on Monday. The firm’s 50 day simple moving average is $46.24 and its 200 day simple moving average is $39.12. Semtech has a 1-year low of $15.63 and a 1-year high of $66.64. The firm has a market capitalization of $4.83 billion, a PE ratio of -4.86 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share. Research analysts forecast that Semtech will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Semtech

Several hedge funds have recently made changes to their positions in the business. Huntington National Bank increased its position in Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 302 shares during the period. Ridgewood Investments LLC bought a new position in Semtech in the second quarter worth about $44,000. Canada Pension Plan Investment Board purchased a new stake in Semtech in the second quarter worth about $60,000. NBC Securities Inc. boosted its position in Semtech by 115.8% during the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 739 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Semtech during the 2nd quarter worth approximately $63,000.

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.