Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Northland Securities Analyst Says

Semtech (NASDAQ:SMTC) had its target price lifted by equities research analysts at Northland Securities from $46.00 to $60.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ price objective indicates a potential downside of 6.54% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Roth Mkm lifted their price target on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus upped their target price on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Summit Insights cut Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Semtech in a research report on Wednesday, August 28th. Finally, B. Riley boosted their price target on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Semtech currently has an average rating of “Moderate Buy” and an average target price of $67.70.

Semtech Trading Up 1.7 %

SMTC stock opened at $64.20 on Tuesday. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of -4.86 and a beta of 1.54. The business’s 50-day moving average is $46.24 and its 200 day moving average is $39.12. Semtech has a 12-month low of $15.63 and a 12-month high of $66.64.

Semtech (NASDAQ:SMTC) last issued 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 net margin of 99.08% and a negative return on equity of 154.99%. The business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. During the same period in the prior year, the business earned $0.02 earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, equities analysts forecast that Semtech will post -0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Semtech

A number of institutional investors have recently made changes to their positions in SMTC. Vanguard Group Inc. increased its position in Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after purchasing an additional 131,133 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Semtech by 5.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 77,580 shares of the semiconductor company’s stock worth $2,134,000 after acquiring an additional 4,347 shares during the last quarter. SG Capital Management LLC acquired a new position in Semtech in the 1st quarter valued at $7,084,000. Harbor Capital Advisors Inc. grew its position in shares of Semtech by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 18,043 shares of the semiconductor company’s stock valued at $539,000 after purchasing an additional 3,370 shares during the period. Finally, CWM LLC boosted its stake in Semtech by 134.6% in the 2nd quarter. CWM LLC now owns 2,412 shares of the semiconductor company’s stock worth $72,000 after buying an additional 1,384 shares during the last quarter.

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.