Semtech Co. (NASDAQ:SMTC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Semtech Co. (NASDAQ:SMTC) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $52.60.

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus upped their price objective 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. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Benchmark reiterated a “buy” rating and set a $56.00 price target on shares of Semtech in a report on Monday, September 9th. Roth Mkm reissued a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th.

Semtech Stock Performance

Shares of NASDAQ:SMTC opened at $41.68 on Friday. Semtech has a 52-week low of $13.13 and a 52-week high of $49.53. The business’s 50 day simple moving average is $38.39 and its two-hundred day simple moving average is $35.22. The firm has a market cap of $2.69 billion, a P/E ratio of -2.46 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $215.40 million during the quarter, compared to the consensus estimate of $212.30 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share. On average, equities analysts forecast that Semtech will post -0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Semtech

Several large investors have recently modified their holdings of SMTC. Truist Financial Corp purchased a new stake in Semtech during the 2nd quarter valued at $340,000. Quarry LP bought a new stake in shares of Semtech in the second quarter worth $63,000. Creative Planning grew its holdings in shares of Semtech by 3.4% in the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after acquiring an additional 588 shares during the period. Disciplined Growth Investors Inc. MN increased its position in Semtech by 343.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after acquiring an additional 1,932,116 shares during the last quarter. Finally, Clearline Capital LP lifted its holdings in Semtech by 143.1% in the second quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock valued at $26,863,000 after acquiring an additional 529,194 shares during the period.

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.