Brokerages Set Semtech Co. (NASDAQ:SMTC) Price Target at $71.09

Semtech Co. (NASDAQ:SMTC) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $72.00.

Several equities analysts recently weighed in on SMTC shares. Roth Mkm lifted their price target on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Benchmark upped their target price on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus lifted their price target on shares of Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Robert W. Baird reduced their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday. Finally, 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.

Semtech Trading Down 9.9 %

Semtech stock opened at $54.51 on Friday. The firm has a market cap of $4.13 billion, a PE ratio of -4.18, a P/E/G ratio of 2.98 and a beta of 1.64. The stock’s 50 day simple moving average is $65.85 and its two-hundred day simple moving average is $50.74. Semtech has a 12 month low of $19.12 and a 12 month high of $79.52.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. During the same period last year, the company posted $0.02 earnings per share. The business’s quarterly revenue was up 17.9% on a year-over-year basis.

Insider Activity

In other Semtech news, CFO Mark Lin sold 6,114 shares of Semtech stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at $232,127.94. The trade was a 63.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total transaction of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. This trade represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,747 shares of company stock worth $1,095,061 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Semtech

Hedge funds and other institutional investors have recently modified their holdings of the business. Huntington National Bank boosted its position in shares of Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after buying an additional 302 shares during the period. GAMMA Investing LLC lifted its stake in Semtech by 15.3% during the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock worth $196,000 after acquiring an additional 421 shares in the last quarter. Hanseatic Management Services Inc. boosted its holdings in Semtech by 3.2% during the 3rd quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after acquiring an additional 447 shares during the period. Smartleaf Asset Management LLC grew its position in Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 505 shares in the last quarter. Finally, Creative Planning increased its stake in Semtech by 3.4% during the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after purchasing an additional 588 shares during the period.

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.