Craig Hallum Raises Semtech (NASDAQ:SMTC) Price Target to $70.00

Semtech (NASDAQ:SMTC) had its price target hoisted by Craig Hallum from $48.00 to $70.00 in a research report released on Tuesday, MarketBeat reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also commented on the company. Stifel Nicolaus lifted their price target on Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. B. Riley increased 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. Susquehanna raised their price objective on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 21st. Finally, Roth Mkm upped their target price on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Semtech currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.70.

Semtech Price Performance

NASDAQ SMTC opened at $64.04 on Tuesday. The firm’s fifty day moving average price is $47.00 and its 200 day moving average price is $39.47. Semtech has a 12 month low of $15.63 and a 12 month high of $66.64. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of -4.83 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. Semtech’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, sell-side analysts forecast that Semtech will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.