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

Shares of Semtech Co. (NASDAQ:SMTC) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $68.70.

Several research firms recently commented on SMTC. Northland Securities raised their target price on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and set a $75.00 price target (up from $60.00) on shares of Semtech in a report on Tuesday, November 26th. Susquehanna lifted their price objective on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Benchmark increased their target price on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, B. Riley boosted their price target on shares of Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th.

Semtech Stock Down 4.3 %

Shares of NASDAQ SMTC opened at $62.92 on Thursday. The firm’s 50-day moving average price is $52.88 and its two-hundred day moving average price is $41.96. Semtech has a 52-week low of $18.16 and a 52-week high of $70.27. The stock has a market capitalization of $4.76 billion, a P/E ratio of -4.82 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. During the same quarter last year, the business posted $0.02 EPS. The business’s revenue was up 17.9% on a year-over-year basis. As a group, equities research analysts expect that Semtech will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Huntington National Bank boosted its position in 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 during the period. Ridgewood Investments LLC acquired a new stake in shares of Semtech during the second quarter worth approximately $44,000. Canada Pension Plan Investment Board purchased a new position in Semtech during the second quarter valued at approximately $60,000. 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 period. Finally, Quarry LP purchased a new stake in Semtech in the 2nd quarter worth approximately $63,000.

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.