Analysts Set Semtech Co. (NASDAQ:SMTC) Price Target at $52.60

Semtech Co. (NASDAQ:SMTC) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $52.60.

A number of research analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. B. Riley raised their price objective on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Benchmark reiterated a “buy” rating and issued a $56.00 target price on shares of Semtech in a report on Monday, October 7th.

Institutional Trading of Semtech

Large investors have recently added to or reduced their stakes in the stock. Disciplined Growth Investors Inc. MN boosted its position in shares of Semtech by 343.3% in 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 period. Driehaus Capital Management LLC bought a new position in shares of Semtech in the second quarter valued at approximately $43,395,000. Millennium Management LLC boosted its position in shares of Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after acquiring an additional 765,877 shares during the period. Clearline Capital LP boosted its position in shares of 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. Finally, Fred Alger Management LLC bought a new position in shares of Semtech in the second quarter valued at approximately $14,307,000.

Semtech Stock Up 0.8 %

Shares of NASDAQ SMTC opened at $44.54 on Wednesday. The firm has a market cap of $3.35 billion, a PE ratio of -3.29 and a beta of 1.54. Semtech has a 12-month low of $13.44 and a 12-month high of $49.53. The company’s fifty day simple moving average is $43.36 and its 200 day simple moving average is $37.50.

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

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.