Semtech Corporation (NASDAQ:SMTC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Semtech Corporation (NASDAQ:SMTC) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $95.7143.

A number of research firms have recently commented on SMTC. Needham & Company LLC boosted their price target on shares of Semtech from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Weiss Ratings lowered Semtech from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, March 24th. Morgan Stanley boosted their target price on Semtech from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, March 16th. Wall Street Zen cut Semtech from a “strong-buy” rating to a “buy” rating in a report on Monday, January 26th. Finally, Craig Hallum lifted their price target on Semtech from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th.

Semtech Trading Up 1.9%

Shares of Semtech stock opened at $121.50 on Friday. The company’s 50-day moving average price is $90.10 and its 200-day moving average price is $80.82. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. Semtech has a 12-month low of $34.16 and a 12-month high of $127.19. The company has a market cap of $11.31 billion, a price-to-earnings ratio of -276.14 and a beta of 2.22.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Monday, March 16th. The semiconductor company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Semtech had a negative net margin of 3.86% and a positive return on equity of 18.09%. The company had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $273.14 million. During the same quarter in the previous year, the company earned $0.40 earnings per share. Semtech’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts expect that Semtech will post 1.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Semtech news, Director Martin Burvill sold 2,500 shares of Semtech stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $88.98, for a total transaction of $222,450.00. Following the completion of the sale, the director directly owned 4,409 shares in the company, valued at $392,312.82. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jason Elliot Green sold 7,500 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $81.73, for a total transaction of $612,975.00. Following the sale, the executive vice president owned 8,811 shares in the company, valued at approximately $720,123.03. This trade represents a 45.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 46,384 shares of company stock valued at $3,920,140 over the last three months. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Semtech

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new position in shares of Semtech during the 1st quarter valued at about $33,000. Hantz Financial Services Inc. boosted its stake in Semtech by 243.2% in the third quarter. Hantz Financial Services Inc. now owns 508 shares of the semiconductor company’s stock worth $36,000 after buying an additional 360 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Semtech during the third quarter valued at approximately $41,000. AlphaQuest LLC raised its stake in shares of Semtech by 42.5% during the third quarter. AlphaQuest LLC now owns 580 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 173 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Semtech by 65.5% during the third quarter. Jones Financial Companies Lllp now owns 594 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 235 shares in the last quarter.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.