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

Shares of Semtech Co. (NASDAQ:SMTC) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $52.60.

Several research firms recently weighed in on SMTC. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Roth Mkm reiterated a “buy” rating and set a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Stifel Nicolaus increased their price objective on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, B. Riley boosted their target price on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th.

Semtech Stock Up 2.7 %

SMTC stock opened at $41.68 on Friday. The company’s 50-day moving average price is $38.39 and its two-hundred day moving average price is $35.22. The firm has a market cap of $2.69 billion, a P/E ratio of -2.46 and a beta of 1.54. Semtech has a 12 month low of $13.13 and a 12 month high of $49.53.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $212.30 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. Equities analysts predict that Semtech will post -0.07 EPS for the current year.

Hedge Funds Weigh In On Semtech

Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System boosted its position in Semtech by 2.3% during the second quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock valued at $540,000 after acquiring an additional 407 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Semtech by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 461 shares in the last quarter. Creative Planning grew its stake in Semtech by 3.4% during the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after purchasing an additional 588 shares during the period. Louisiana State Employees Retirement System increased its holdings in Semtech by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock worth $971,000 after purchasing an additional 700 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Semtech by 4.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company’s stock valued at $463,000 after buying an additional 710 shares during the period.

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.