Semtech Co. (NASDAQ:SMTC) Receives $53.10 Average Target Price from Analysts

Semtech Co. (NASDAQ:SMTC) has been assigned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $67.70.

A number of research analysts have issued reports on the stock. Northland Securities upped their target price on shares of Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday. Susquehanna upped their target price on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 21st. Stifel Nicolaus upped their target price on shares of Semtech from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective (up previously from $50.00) on shares of Semtech in a research note on Tuesday. Finally, B. Riley upped their price objective on shares of Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday.

Institutional Trading of Semtech

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after purchasing an additional 131,133 shares in the last quarter. Millennium Management LLC grew its position in Semtech by 26.6% in the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after acquiring an additional 765,877 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in Semtech by 4.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock valued at $119,172,000 after acquiring an additional 114,999 shares in the last quarter. Kodai Capital Management LP grew its position in Semtech by 2.7% in the first quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock valued at $56,075,000 after acquiring an additional 54,267 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Semtech by 8.0% in the third quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after acquiring an additional 119,572 shares in the last quarter.

Semtech Stock Up 1.7 %

Semtech stock opened at $64.20 on Friday. Semtech has a 52 week low of $15.63 and a 52 week high of $66.64. The firm’s 50-day simple moving average is $46.64 and its 200 day simple moving average is $39.30. The firm has a market capitalization of $4.83 billion, a PE ratio of -4.74 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million for the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. On average, research analysts expect that Semtech will post -0.07 EPS for the current fiscal year.

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.