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

Semtech Co. (NASDAQ:SMTC) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $48.90.

A number of research analysts recently issued reports on SMTC shares. Needham & Company LLC raised their price target on Semtech from $38.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Stifel Nicolaus lifted their target price on shares of Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Robert W. Baird increased their price target on shares of Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. B. Riley lifted their price objective on shares of Semtech from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Piper Sandler reiterated an “overweight” rating and set a $60.00 target price (up previously from $40.00) on shares of Semtech in a research note on Wednesday, May 29th.

Semtech Trading Down 1.0 %

NASDAQ SMTC opened at $29.47 on Thursday. The firm’s fifty day moving average price is $35.85 and its 200 day moving average price is $27.51. Semtech has a 12 month low of $13.13 and a 12 month high of $46.86. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.40 and a quick ratio of 1.74. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -1.74 and a beta of 1.63.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Semtech had a negative return on equity of 154.99% and a negative net margin of 129.52%. The firm had revenue of $192.95 million for the quarter, compared to analysts’ expectations of $191.24 million. On average, sell-side analysts expect that Semtech will post -0.03 earnings per share for the current fiscal year.

Insider Activity at Semtech

In other news, CFO Mark Lin bought 1,000 shares of the stock in a transaction on Monday, April 8th. The shares were bought at an average price of $33.23 per share, with a total value of $33,230.00. Following the completion of the acquisition, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $33,230. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Kodai Capital Management LP acquired a new stake in Semtech during the 4th quarter worth approximately $43,504,000. Ameriprise Financial Inc. raised its position in shares of Semtech by 58.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock worth $101,927,000 after buying an additional 1,466,665 shares in the last quarter. Invesco Ltd. lifted its position in Semtech by 215.9% in the third quarter. Invesco Ltd. now owns 947,997 shares of the semiconductor company’s stock worth $24,411,000 after purchasing an additional 647,893 shares during the period. Victory Capital Management Inc. grew its holdings in Semtech by 81.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,369,043 shares of the semiconductor company’s stock worth $29,996,000 after acquiring an additional 613,274 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Semtech by 5,613.9% in the 1st quarter. SG Americas Securities LLC now owns 426,886 shares of the semiconductor company’s stock worth $11,735,000 after purchasing an additional 419,415 shares during the last quarter.

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.