Stifel Nicolaus Issues Positive Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its target price increased by Stifel Nicolaus from $65.00 to $75.00 in a report released on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts have also recently weighed in on the company. Roth Mkm boosted their price target on Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Susquehanna raised their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Northland Securities upped their price objective on shares of Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Craig Hallum lifted their target price on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Benchmark increased their price target on Semtech from $56.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and a consensus price target of $69.70.

Semtech Trading Up 2.1 %

SMTC stock opened at $67.49 on Monday. Semtech has a 12-month low of $18.16 and a 12-month high of $70.27. The company has a market cap of $5.11 billion, a price-to-earnings ratio of -5.17 and a beta of 1.65. The firm has a 50 day moving average of $57.94 and a 200-day moving average of $44.88.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share 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 business had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. During the same quarter last year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. Sell-side analysts forecast that Semtech will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 1,359 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $65.15, for a total transaction of $88,538.85. Following the completion of the sale, the chief financial officer now directly owns 4,164 shares of the company’s stock, valued at approximately $271,284.60. This represents a 24.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the sale, the senior vice president now owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. This represents a 31.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,419 shares of company stock worth $676,955 in the last three months. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Semtech

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Semtech by 15.3% during the 4th quarter. GAMMA Investing LLC now owns 3,166 shares of the semiconductor company’s stock valued at $196,000 after buying an additional 421 shares during the period. Principal Financial Group Inc. raised its stake in shares of Semtech by 10.5% during the third quarter. Principal Financial Group Inc. now owns 354,505 shares of the semiconductor company’s stock valued at $16,187,000 after purchasing an additional 33,606 shares during the period. Geode Capital Management LLC lifted its position in shares of Semtech by 8.0% during the third quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after purchasing an additional 119,572 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of 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. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Semtech during the 3rd quarter valued at $763,000.

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.