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

Semtech Co. (NASDAQ:SMTC) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $61.55.

A number of research firms recently weighed in on SMTC. Piper Sandler reissued an “overweight” rating and issued a $55.00 price objective (down from $75.00) on shares of Semtech in a research report on Monday, February 10th. Benchmark reduced their price target on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Robert W. Baird dropped their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Semtech in a research report on Friday, March 14th. Finally, UBS Group decreased their target price on Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, March 14th.

Semtech Stock Performance

NASDAQ SMTC opened at $35.05 on Friday. The business’s 50 day moving average price is $45.94 and its 200-day moving average price is $50.95. Semtech has a fifty-two week low of $27.25 and a fifty-two week high of $79.52. The company has a market cap of $2.65 billion, a P/E ratio of -2.69, a P/E/G ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. The company’s revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) EPS. As a group, equities analysts predict that Semtech will post -0.02 EPS for the current year.

Insider Buying and Selling

In other Semtech news, CFO Mark Lin sold 10,890 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $34.68, for a total transaction of $377,665.20. Following the completion of the sale, the chief financial officer now owns 11,625 shares in the company, valued at $403,155. This represents a 48.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Imran Sherazi sold 1,338 shares of Semtech stock in a transaction on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now owns 14 shares in the company, valued at $1,050. This represents a 98.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,484 shares of company stock valued at $993,933 over the last three months. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Semtech

Large investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in shares of Semtech in the 4th quarter valued at about $31,000. Dunhill Financial LLC purchased a new stake in Semtech during the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC boosted its stake in 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. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Semtech in the fourth quarter worth $52,000. Finally, AlphaQuest LLC grew its holdings in Semtech by 173.5% in the fourth quarter. AlphaQuest LLC now owns 1,217 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 772 shares during the last quarter.

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.