Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Craig Hallum Analyst Says

Semtech (NASDAQ:SMTC) had its price target raised by stock analysts at Craig Hallum from $48.00 to $70.00 in a research report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price objective suggests a potential upside of 9.03% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. B. Riley raised their price target 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. Summit Insights lowered shares of Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Susquehanna boosted their price target on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target (up previously from $50.00) on shares of Semtech in a research note on Tuesday. Finally, Northland Securities lifted their price objective on Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.70.

Semtech Stock Up 1.7 %

Semtech stock opened at $64.20 on Tuesday. The firm’s 50-day simple moving average is $46.24 and its 200 day simple moving average is $39.12. Semtech has a 52 week low of $15.63 and a 52 week high of $66.64. The firm has a market capitalization of $4.83 billion, a PE ratio of -4.86 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. During the same quarter in the prior year, the firm earned $0.02 EPS. Semtech’s quarterly revenue was up 17.9% on a year-over-year basis. On average, research analysts expect that Semtech will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Semtech

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of 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 raised its position in Semtech by 4.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after purchasing an additional 114,999 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Semtech during the third quarter worth about $763,000. Wellington Management Group LLP purchased a new stake in shares of Semtech in the third quarter worth about $10,556,000. Finally, Whale Rock Capital Management LLC purchased a new stake in shares of Semtech in the third quarter worth about $32,126,000.

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.