Semtech Co. (NASDAQ:SMTC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Semtech Co. (NASDAQ:SMTC) have received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $52.60.

A number of research firms have recently issued reports on SMTC. Benchmark reaffirmed a “buy” rating and set a $56.00 target price on shares of Semtech in a report on Monday, October 7th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. B. Riley upped their target price on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Finally, Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th.

Semtech Stock Performance

Semtech stock opened at $47.76 on Wednesday. The stock has a 50-day moving average of $42.83 and a two-hundred day moving average of $37.30. Semtech has a one year low of $13.13 and a one year high of $49.53. The stock has a market cap of $3.59 billion, a PE ratio of -3.52 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data 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 return on equity of 154.99% and a negative net margin of 107.21%. The firm had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $212.30 million. During the same period last year, the business posted ($0.06) earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, sell-side analysts predict that Semtech will post -0.07 EPS for the current fiscal year.

Institutional Trading of Semtech

A number of large investors have recently made changes to their positions in SMTC. Fidelis Capital Partners LLC purchased a new stake in shares of Semtech during the first quarter worth approximately $27,000. Ridgewood Investments LLC purchased a new position in Semtech in the second quarter valued at approximately $44,000. Canada Pension Plan Investment Board purchased a new position in Semtech in the second quarter valued at approximately $60,000. NBC Securities Inc. increased its stake in Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 739 shares during the last quarter. Finally, Quarry LP purchased a new position in Semtech in the second quarter valued at approximately $63,000.

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.