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

Shares of Semtech Co. (NASDAQ:SMTC) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $71.09.

SMTC has been the subject of several analyst reports. B. Riley boosted their target price on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Northland Securities increased their target price on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. UBS Group assumed coverage on shares of Semtech in a research report on Friday, January 17th. They set a “buy” rating and a $85.00 price objective for the company. Stifel Nicolaus raised their target price on shares of Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $75.00 price objective (up previously from $60.00) on shares of Semtech in a report on Tuesday, November 26th.

Insider Buying and Selling at Semtech

In related news, CFO Mark Lin sold 6,114 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.74, for a total transaction of $401,934.36. Following the transaction, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. This represents a 63.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the sale, the senior vice president now directly owns 6,317 shares of the company’s stock, valued at $399,866.10. This trade represents a 31.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,747 shares of company stock valued at $1,095,061. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Huntington National Bank grew its holdings in Semtech by 105.2% during the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after buying an additional 302 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Semtech by 190.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 505 shares in the last quarter. NBC Securities Inc. grew its holdings in shares of 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 acquiring an additional 739 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Semtech by 4,464.9% during the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 1,652 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Semtech by 51.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,768 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 598 shares during the period.

Semtech Price Performance

SMTC opened at $60.50 on Friday. The business has a fifty day simple moving average of $66.04 and a 200 day simple moving average of $50.34. Semtech has a 1 year low of $19.12 and a 1 year high of $79.52. The company has a market capitalization of $4.58 billion, a PE ratio of -4.64 and a beta of 1.64.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. During the same period in the prior year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year.

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.