Stifel Nicolaus Issues Positive Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its target price boosted by Stifel Nicolaus from $58.00 to $65.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the company. Benchmark restated a “buy” rating and issued a $56.00 price target on shares of Semtech in a research report on Monday, October 7th. Northland Securities boosted their target price on Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday. Susquehanna increased their price target on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Piper Sandler reiterated an “overweight” rating and issued a $75.00 price objective (up from $60.00) on shares of Semtech in a research report on Tuesday. Finally, B. Riley upped their price objective on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and an average target price of $67.70.

Semtech Price Performance

NASDAQ SMTC opened at $64.04 on Tuesday. The company has a fifty day moving average of $47.00 and a two-hundred day moving average of $39.47. Semtech has a 1 year low of $15.63 and a 1 year high of $66.64. The company has a market capitalization of $4.82 billion, a PE ratio of -4.83 and a beta of 1.54.

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

Institutional Trading of Semtech

A number of institutional investors have recently added to or reduced their stakes in SMTC. Geode Capital Management LLC lifted its position in shares of Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after acquiring an additional 119,572 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in Semtech by 4.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after purchasing an additional 114,999 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Semtech during the third quarter worth $763,000. Wellington Management Group LLP acquired a new position in Semtech during the third quarter worth $10,556,000. Finally, Whale Rock Capital Management LLC purchased a new stake in Semtech during the third quarter worth $32,126,000.

Semtech Company Profile

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.