Shares of Semtech Co. (NASDAQ:SMTC) have been given a consensus recommendation of “Buy” by the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $57.89.
Several analysts have weighed in on SMTC shares. ValuEngine raised Semtech from a “buy” rating to a “strong-buy” rating in a report on Friday, February 22nd. BidaskClub cut Semtech from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Loop Capital raised Semtech to a “buy” rating in a report on Monday, March 18th. B. Riley raised their price target on Semtech from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Finally, Roth Capital cut Semtech from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a report on Thursday, March 14th.
Shares of NASDAQ:SMTC traded down $0.31 on Monday, hitting $54.25. The company’s stock had a trading volume of 329,860 shares, compared to its average volume of 718,773. Semtech has a 1 year low of $38.95 and a 1 year high of $60.55. The stock has a market cap of $3.61 billion, a P/E ratio of 40.79, a PEG ratio of 3.47 and a beta of 1.66. The company has a quick ratio of 3.25, a current ratio of 3.74 and a debt-to-equity ratio of 0.28.
Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, March 13th. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. Semtech had a return on equity of 13.94% and a net margin of 10.05%. The firm had revenue of $160.00 million for the quarter, compared to analysts’ expectations of $158.48 million. During the same quarter last year, the firm posted $0.42 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts expect that Semtech will post 1.22 EPS for the current fiscal year.
In related news, EVP Gary Beauchamp sold 48,367 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $54.58, for a total transaction of $2,639,870.86. Following the transaction, the executive vice president now directly owns 43,367 shares of the company’s stock, valued at approximately $2,366,970.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Emeka Chukwu sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $51.00, for a total value of $56,100.00. Following the transaction, the chief financial officer now directly owns 84,930 shares in the company, valued at $4,331,430. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,614 shares of company stock worth $6,664,320. 2.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SMTC. Oregon Public Employees Retirement Fund purchased a new position in shares of Semtech during the 4th quarter valued at about $25,000. Pearl River Capital LLC purchased a new position in shares of Semtech during the 4th quarter valued at about $25,000. Cutler Group LP purchased a new position in shares of Semtech during the 4th quarter valued at about $27,000. Enlightenment Research LLC purchased a new position in shares of Semtech during the 4th quarter valued at about $28,000. Finally, IFP Advisors Inc raised its holdings in shares of Semtech by 44.7% during the 4th quarter. IFP Advisors Inc now owns 1,010 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 312 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors.
Semtech Company Profile
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications 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.
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