Semtech Co. (NASDAQ:SMTC) Receives $61.55 Consensus Price Target from Brokerages

Shares of Semtech Co. (NASDAQ:SMTC) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $61.55.

Several equities research analysts have weighed in on the stock. Benchmark decreased their price target on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, March 14th. UBS Group decreased their target price on Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Stifel Nicolaus cut their price target on Semtech from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Robert W. Baird decreased their price objective on Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, Craig Hallum lowered their target price on Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 14th.

Insider Transactions at Semtech

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the chief operating officer now owns 76,417 shares in the company, valued at $5,349,190. This represents a 2.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lin sold 2,907 shares of Semtech stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total value of $109,622.97. Following the sale, the chief financial officer now owns 13,481 shares in the company, valued at $508,368.51. The trade was a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock worth $905,394 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Semtech

A number of large investors have recently added to or reduced their stakes in SMTC. Whale Rock Capital Management LLC raised its stake in shares of Semtech by 364.2% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock valued at $202,015,000 after buying an additional 2,562,602 shares during the period. Wellington Management Group LLP raised its stake in Semtech by 827.0% in the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock valued at $132,550,000 after acquiring an additional 1,911,890 shares during the period. Vanguard Group Inc. lifted its holdings in Semtech by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock valued at $713,906,000 after purchasing an additional 1,326,226 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Semtech during the fourth quarter worth about $51,315,000. Finally, Fred Alger Management LLC increased its stake in shares of Semtech by 122.6% in the fourth quarter. Fred Alger Management LLC now owns 1,491,844 shares of the semiconductor company’s stock worth $92,271,000 after purchasing an additional 821,671 shares in the last quarter.

Semtech Price Performance

NASDAQ SMTC opened at $28.01 on Friday. The stock has a market capitalization of $2.42 billion, a P/E ratio of -2.15, a P/E/G ratio of 2.12 and a beta of 1.85. The business has a 50 day simple moving average of $41.67 and a 200 day simple moving average of $50.68. Semtech has a one year low of $25.17 and a one year high of $79.52.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period last year, the business earned ($0.06) EPS. Equities analysts expect that Semtech will post -0.02 earnings per share for the current year.

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.