Brokerages Set Semtech Co. (NASDAQ:SMTC) Target Price at $69.70

Shares of Semtech Co. (NASDAQ:SMTC) have received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $71.09.

SMTC has been the subject of a number of research analyst reports. Craig Hallum increased their price target on Semtech from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus raised their target price on Semtech from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 6th. B. Riley lifted their target price on Semtech from $61.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Susquehanna raised their price objective on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Finally, UBS Group initiated coverage on shares of Semtech in a research note on Friday. They issued a “buy” rating and a $85.00 target price on the stock.

Insiders Place Their Bets

In other news, COO Asaf Silberstein sold 2,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the chief operating officer now directly owns 76,417 shares of the company’s stock, valued at approximately $5,349,190. This represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Imran Sherazi sold 2,946 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were 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 of the company’s stock, valued at $399,866.10. This trade 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 12,419 shares of company stock worth $816,955 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its position in shares of Semtech by 6.3% in the third quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock worth $515,000 after purchasing an additional 673 shares during the last quarter. Moody National Bank Trust Division grew its stake in Semtech by 148.6% in the 4th quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock worth $1,272,000 after buying an additional 12,296 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Semtech by 128.3% in the 3rd quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock worth $1,394,000 after buying an additional 17,150 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Semtech by 100.2% during the 3rd quarter. Natixis Advisors LLC now owns 35,610 shares of the semiconductor company’s stock valued at $1,626,000 after buying an additional 17,823 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Semtech by 135.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock worth $1,943,000 after acquiring an additional 24,517 shares during the last quarter.

Semtech Trading Up 8.8 %

Shares of NASDAQ:SMTC opened at $75.00 on Monday. The stock has a market cap of $5.68 billion, a PE ratio of -5.75 and a beta of 1.65. The stock’s fifty day simple moving average is $61.68 and its two-hundred day simple moving average is $47.27. Semtech has a 1-year low of $18.72 and a 1-year high of $75.75.

Semtech (NASDAQ:SMTC) last released 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 net margin of 99.08% and a negative return on equity of 154.99%. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. During the same period last year, the firm earned $0.02 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis.

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.