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

Shares of Semtech Co. (NASDAQ:SMTC) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $53.10.

Several equities analysts have recently weighed in on SMTC shares. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Susquehanna raised their price objective on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday. B. Riley increased their target price on Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Stifel Nicolaus lifted their price target on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Benchmark reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Semtech in a report on Monday, October 7th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after acquiring an additional 119,572 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of Semtech by 4.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after purchasing an additional 114,999 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Semtech in the third quarter valued at approximately $763,000. Wellington Management Group LLP bought a new position in Semtech in the 3rd quarter valued at approximately $10,556,000. Finally, Whale Rock Capital Management LLC acquired a new stake in Semtech during the 3rd quarter worth approximately $32,126,000.

Semtech Price Performance

Shares of SMTC opened at $50.89 on Friday. The firm has a 50-day moving average of $45.56 and a 200-day moving average of $38.87. The company has a market cap of $3.83 billion, a PE ratio of -3.76 and a beta of 1.54. Semtech has a one year low of $15.53 and a one year high of $53.22.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $212.30 million. During the same quarter in the previous year, the business earned ($0.06) earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. Analysts expect that Semtech will post -0.07 earnings per share for the current year.

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.