Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Semtech (NASDAQ:SMTC) had its price objective lifted by analysts at Stifel Nicolaus from $58.00 to $65.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 1.25% from the stock’s current price.

A number of other research firms have also recently weighed in on SMTC. Roth Mkm upped their target price on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Craig Hallum increased their target price on Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. Northland Securities boosted their price target on Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday. B. Riley increased their price objective on Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $70.00 target price (up previously from $50.00) on shares of Semtech in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Semtech presently has a consensus rating of “Moderate Buy” and an average target price of $67.70.

Semtech Stock Performance

Shares of NASDAQ:SMTC opened at $64.20 on Tuesday. Semtech has a 52-week low of $15.63 and a 52-week high of $66.64. The company has a market cap of $4.83 billion, a P/E ratio of -4.86 and a beta of 1.54. The stock’s 50-day moving average is $46.24 and its 200-day moving average is $39.12.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. During the same period in the previous year, the company earned $0.02 earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, equities analysts predict that Semtech will post -0.07 EPS for the current year.

Institutional Investors Weigh In On Semtech

Large investors have recently made changes to their positions in the stock. Huntington National Bank grew its stake in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 302 shares in the last quarter. NBC Securities Inc. increased its stake in Semtech by 115.8% in the 3rd quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 739 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in Semtech in the 2nd quarter valued at $44,000. International Assets Investment Management LLC boosted its stake in shares of Semtech by 4,464.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after buying an additional 1,652 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Semtech in the 2nd quarter valued at about $60,000.

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.