Semtech (NASDAQ:SMTC) Price Target Raised to $75.00 at Stifel Nicolaus

Semtech (NASDAQ:SMTC) had its target price increased by Stifel Nicolaus from $65.00 to $75.00 in a report released on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

SMTC has been the subject of a number of other reports. Susquehanna lifted their price target on Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Roth Mkm lifted their target price on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Craig Hallum upped their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Northland Securities lifted their price objective on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC increased their target price on shares of Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.70.

Semtech Stock Up 2.1 %

Shares of SMTC opened at $67.49 on Monday. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of -5.17 and a beta of 1.65. The business’s 50 day moving average is $57.94 and its two-hundred day moving average is $44.88. Semtech has a 52-week low of $18.16 and a 52-week high of $70.27.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results 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 firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. On average, equities analysts expect that Semtech will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mark Lin sold 6,114 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the transaction, the chief financial officer now directly owns 3,531 shares in the company, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the sale, the senior vice president now owns 6,317 shares in the company, valued at approximately $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,419 shares of company stock valued at $676,955 in the last quarter. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Semtech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Natixis Advisors LLC acquired a new position in Semtech during the 2nd quarter valued at about $531,000. Arizona State Retirement System increased its stake in shares of Semtech by 2.3% during the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock valued at $540,000 after acquiring an additional 407 shares during the period. Quest Partners LLC raised its holdings in Semtech by 1,234.4% during the second quarter. Quest Partners LLC now owns 12,290 shares of the semiconductor company’s stock worth $367,000 after purchasing an additional 11,369 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in Semtech by 9.7% during the second quarter. Texas Permanent School Fund Corp now owns 61,486 shares of the semiconductor company’s stock worth $1,837,000 after purchasing an additional 5,433 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Semtech in the second quarter worth approximately $153,000.

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.