Analysts Set Semtech Co. (NASDAQ:SMTC) Target Price at $81.18

Semtech Co. (NASDAQ:SMTC) has earned a consensus rating of “Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $82.55.

Several equities analysts recently weighed in on the stock. Susquehanna Bancshares reissued a “hold” rating and issued a $71.00 target price on shares of Semtech in a research note on Monday, August 30th. Wells Fargo & Company reissued a “buy” rating and issued a $85.00 target price on shares of Semtech in a research note on Friday, October 15th. Zacks Investment Research downgraded Semtech from a “buy” rating to a “sell” rating and set a $92.00 price target for the company. in a report on Tuesday, November 2nd. Needham & Company LLC raised their price target on Semtech from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, September 2nd. Finally, Cowen raised their price target on Semtech from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, August 23rd.

Shares of SMTC traded down $0.01 during mid-day trading on Friday, hitting $89.51. 189,629 shares of the company’s stock were exchanged, compared to its average volume of 376,537. The firm has a market capitalization of $5.76 billion, a P/E ratio of 64.86, a PEG ratio of 3.95 and a beta of 1.51. Semtech has a 52 week low of $57.97 and a 52 week high of $94.92. The stock has a 50-day moving average of $82.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.28 and a current ratio of 4.17.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, August 31st. The semiconductor company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Semtech had a net margin of 13.44% and a return on equity of 14.21%. The business had revenue of $185.00 million during the quarter, compared to analysts’ expectations of $182.89 million. During the same period last year, the business earned $0.43 earnings per share. The firm’s revenue was up 28.7% on a year-over-year basis. On average, equities research analysts anticipate that Semtech will post 1.83 EPS for the current year.

In related news, VP Alisair Fulton sold 1,350 shares of the firm’s stock in a transaction on Wednesday, October 13th. The stock was sold at an average price of $75.61, for a total value of $102,073.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Charles B. Ammann sold 8,958 shares of the firm’s stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $75.76, for a total value of $678,658.08. The disclosure for this sale can be found here. Insiders have sold 21,826 shares of company stock valued at $1,671,743 in the last three months. Insiders own 1.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Semtech by 4.8% during the third quarter. Bank of New York Mellon Corp now owns 3,187,371 shares of the semiconductor company’s stock worth $248,519,000 after purchasing an additional 147,434 shares during the last quarter. State Street Corp lifted its stake in shares of Semtech by 1.5% in the second quarter. State Street Corp now owns 2,350,374 shares of the semiconductor company’s stock worth $161,706,000 after acquiring an additional 34,775 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Semtech by 1.3% in the third quarter. Alliancebernstein L.P. now owns 2,036,578 shares of the semiconductor company’s stock worth $158,792,000 after acquiring an additional 27,126 shares during the period. Geode Capital Management LLC lifted its stake in shares of Semtech by 12.3% in the third quarter. Geode Capital Management LLC now owns 1,337,355 shares of the semiconductor company’s stock worth $104,273,000 after acquiring an additional 146,873 shares during the period. Finally, Schroder Investment Management Group lifted its stake in shares of Semtech by 61.5% in the first quarter. Schroder Investment Management Group now owns 1,308,220 shares of the semiconductor company’s stock worth $90,267,000 after acquiring an additional 498,361 shares during the period. Institutional investors own 94.87% of the company’s stock.

About Semtech

Semtech Corp. engages in the manufacture and supply of analog and mixed signal semiconductor products for high-end consumer, enterprise computing, communications, and industrial equipment. The firm operates through the following business segments: Protection, Signal Integrity, and Wireless & Sensing.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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