Semtech Co. (NASDAQ:SMTC) Given Average Recommendation of “Moderate Buy” by Brokerages

Semtech Co. (NASDAQ:SMTC) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $69.70.

Several research firms have weighed in on SMTC. Northland Securities raised their target price on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Benchmark raised their price objective on Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. B. Riley upped their target price on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC lifted their price target on shares of Semtech from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Craig Hallum upped their price objective on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th.

Semtech Price Performance

Shares of Semtech stock opened at $66.15 on Monday. The stock has a 50-day simple moving average of $59.60 and a 200-day simple moving average of $45.92. Semtech has a 52-week low of $18.16 and a 52-week high of $70.27. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of -5.07 and a beta of 1.65.

Semtech (NASDAQ:SMTC) last posted its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, equities research analysts predict that Semtech will post -0.01 earnings per share for the current year.

Insider Activity

In related news, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $63.30, for a total transaction of $186,481.80. Following the completion of the transaction, the senior vice president now owns 6,317 shares in the company, valued at $399,866.10. This trade represents a 31.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lin sold 6,114 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the completion of the sale, the chief financial officer now owns 3,531 shares in the company, valued at $232,127.94. This trade represents a 63.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,419 shares of company stock worth $676,955. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Semtech

Large investors have recently made changes to their positions in the company. Millennium Management LLC raised its stake in shares of Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after acquiring an additional 765,877 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in Semtech by 4.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after buying an additional 114,999 shares in the last quarter. Geode Capital Management LLC increased 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 buying an additional 119,572 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Semtech during the second quarter worth $43,395,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Semtech by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock valued at $48,303,000 after acquiring an additional 100,410 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.