Semtech (NASDAQ:SMTC) Price Target Raised to $60.00 at Susquehanna

Semtech (NASDAQ:SMTC) had its target price boosted by Susquehanna from $55.00 to $60.00 in a research report released on Thursday morning,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

Several other analysts have also commented on the company. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Roth Mkm restated a “buy” rating and issued a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Benchmark restated a “buy” rating and set a $56.00 target price on shares of Semtech in a report on Monday, October 7th. Finally, Stifel Nicolaus boosted their price target on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.10.

Semtech Price Performance

SMTC stock opened at $50.89 on Thursday. Semtech has a 52-week low of $15.53 and a 52-week high of $53.22. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -3.76 and a beta of 1.54. The company has a 50-day moving average of $45.56 and a two-hundred day moving average of $38.86.

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

Institutional Investors Weigh In On Semtech

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Semtech by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after acquiring an additional 119,572 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in Semtech by 4.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after purchasing an additional 114,999 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Semtech during the 3rd quarter worth $763,000. Wellington Management Group LLP acquired a new stake in shares of Semtech in the 3rd quarter valued at approximately $10,556,000. Finally, Whale Rock Capital Management LLC acquired a new stake in Semtech in the third quarter valued at approximately $32,126,000.

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.