Semtech (NASDAQ:SMTC) Price Target Lowered to $55.00 at Craig Hallum

Semtech (NASDAQ:SMTC) had its target price lowered by equities research analysts at Craig Hallum from $70.00 to $55.00 in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price objective would indicate a potential upside of 68.14% from the company’s previous close.

Several other analysts have also commented on the stock. Northland Securities lifted their price objective on shares of Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Susquehanna boosted their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Robert W. Baird dropped their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price objective on shares of Semtech in a report on Friday. Finally, Roth Mkm upped their price objective on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 25th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.36.

Semtech Stock Performance

Shares of SMTC stock opened at $32.71 on Friday. Semtech has a 52-week low of $21.56 and a 52-week high of $79.52. The company has a 50-day simple moving average of $52.84 and a two-hundred day simple moving average of $51.25. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -2.51, a PEG ratio of 2.12 and a beta of 1.69.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $249.40 million. During the same quarter last year, the business posted ($0.06) earnings per share. The business’s revenue was up 30.1% compared to the same quarter last year. On average, sell-side analysts forecast that Semtech will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at Semtech

In other news, CFO Mark Lin sold 6,114 shares of Semtech stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total transaction of $401,934.36. Following the completion of the sale, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. The trade was a 63.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Imran Sherazi sold 1,338 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now directly owns 14 shares in the company, valued at approximately $1,050. This represents a 98.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,637 shares of company stock valued at $1,472,726 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Semtech

Several hedge funds and other institutional investors have recently bought and sold shares of SMTC. Amalgamated Bank boosted its stake in shares of Semtech by 10.1% in the 3rd quarter. Amalgamated Bank now owns 21,694 shares of the semiconductor company’s stock valued at $991,000 after purchasing an additional 1,995 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Semtech by 10.5% during the third quarter. Principal Financial Group Inc. now owns 354,505 shares of the semiconductor company’s stock valued at $16,187,000 after buying an additional 33,606 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Semtech in the 3rd quarter valued at about $201,000. Victory Capital Management Inc. grew its position in Semtech by 130.7% during the 3rd quarter. Victory Capital Management Inc. now owns 824,198 shares of the semiconductor company’s stock worth $37,633,000 after acquiring an additional 466,868 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Semtech by 27.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 14,855 shares of the semiconductor company’s stock worth $678,000 after purchasing an additional 3,222 shares during the period.

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.