Semtech (NASDAQ:SMTC) Price Target Raised to $60.00

Semtech (NASDAQ:SMTC) had its price target boosted by Roth Mkm from $50.00 to $60.00 in a research report released on Monday,Benzinga reports. Roth Mkm currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on SMTC. B. Riley raised their target price on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Semtech in a research note on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and issued a $56.00 target price on shares of Semtech in a research note on Monday, October 7th. Stifel Nicolaus raised their target price on shares of Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Susquehanna lifted their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Semtech presently has an average rating of “Moderate Buy” and a consensus target price of $54.10.

Semtech Trading Up 5.0 %

SMTC stock opened at $53.44 on Monday. The firm has a 50 day moving average of $45.83 and a 200-day moving average of $38.96. Semtech has a 12 month low of $15.63 and a 12 month high of $53.74. The firm has a market capitalization of $4.02 billion, a P/E ratio of -3.94 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. Semtech’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. Sell-side analysts predict that Semtech will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Huntington National Bank increased its stake in shares of Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after buying an additional 302 shares during the period. NBC Securities Inc. increased its stake in shares of Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after buying an additional 739 shares during the period. Ridgewood Investments LLC purchased a new position in shares of Semtech in the second quarter worth $44,000. International Assets Investment Management LLC increased its stake in shares of Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after buying an additional 1,652 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Semtech in the second quarter worth $60,000.

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.