Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Northland Securities Analyst Says

Semtech (NASDAQ:SMTC) had its price target boosted by Northland Securities from $46.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. Northland Securities currently has an outperform rating on the semiconductor company’s stock.

Several other equities research analysts also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Susquehanna upped their price objective on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report 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 report on Monday. Finally, Benchmark reissued a “buy” rating and issued a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Three investment 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 stock presently has an average rating of “Moderate Buy” and an average target price of $67.70.

Semtech Trading Up 18.1 %

SMTC stock opened at $63.11 on Tuesday. Semtech has a 1-year low of $15.63 and a 1-year high of $66.64. The business’s 50 day simple moving average is $45.83 and its 200 day simple moving average is $38.96. The firm has a market capitalization of $4.75 billion, a PE ratio of -4.66 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 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 the consensus estimate of $232.89 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share. As a group, sell-side analysts predict that Semtech will post -0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Semtech

Hedge funds and other institutional investors have recently modified their holdings of the business. Disciplined Growth Investors Inc. MN raised its stake 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 worth $74,550,000 after acquiring an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Semtech during the 2nd quarter valued at approximately $43,395,000. Millennium Management LLC increased its position in Semtech by 26.6% during the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after purchasing an additional 765,877 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in Semtech in the 3rd quarter valued at approximately $32,126,000. Finally, Clearline Capital LP boosted its position 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 buying an additional 529,194 shares in the last quarter.

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.