Semtech Co. (NASDAQ:SMTC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Semtech Co. (NASDAQ:SMTC) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $39.85.

A number of brokerages have weighed in on SMTC. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price (up from $30.00) on shares of Semtech in a research report on Monday, April 1st. Susquehanna upped their price objective on shares of Semtech from $30.00 to $45.00 and gave the stock a “positive” rating in a research note on Monday, April 1st. Robert W. Baird increased their target price on shares of Semtech from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Stifel Nicolaus boosted their price target on shares of Semtech from $31.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Semtech in a research note on Monday, April 1st.

Insider Activity at Semtech

In related news, CFO Mark Lin acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was purchased at an average cost of $33.23 per share, with a total value of $33,230.00. Following the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $33,230. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Semtech

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kodai Capital Management LP purchased a new position in shares of Semtech during the fourth quarter worth $43,504,000. Ameriprise Financial Inc. lifted its holdings in shares of Semtech by 58.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,958,316 shares of the semiconductor company’s stock valued at $101,927,000 after buying an additional 1,466,665 shares during the period. Invesco Ltd. boosted its stake in shares of Semtech by 215.9% in the third quarter. Invesco Ltd. now owns 947,997 shares of the semiconductor company’s stock worth $24,411,000 after buying an additional 647,893 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Semtech by 81.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,369,043 shares of the semiconductor company’s stock worth $29,996,000 after acquiring an additional 613,274 shares during the period. Finally, SG Americas Securities LLC raised its position in Semtech by 5,613.9% during the first quarter. SG Americas Securities LLC now owns 426,886 shares of the semiconductor company’s stock valued at $11,735,000 after acquiring an additional 419,415 shares in the last quarter.

Semtech Stock Up 0.3 %

NASDAQ:SMTC opened at $39.81 on Wednesday. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -2.34 and a beta of 1.70. Semtech has a twelve month low of $13.13 and a twelve month high of $40.19. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.11. The stock has a fifty day simple moving average of $29.20 and a 200-day simple moving average of $22.47.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The company had revenue of $192.95 million during the quarter, compared to analysts’ expectations of $191.24 million. Semtech had a negative net margin of 125.70% and a negative return on equity of 9.41%. Analysts anticipate that Semtech will post -0.09 EPS 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.