Stifel Nicolaus Forecasts Strong Price Appreciation for Semtech (NASDAQ:SMTC) Stock

Semtech (NASDAQ:SMTC) had its price target upped by research analysts at Stifel Nicolaus from $58.00 to $65.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 1.25% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. B. Riley raised their price target 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. Benchmark reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Semtech in a research note on Monday, October 7th. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target (up from $50.00) on shares of Semtech in a research report on Tuesday. Piper Sandler reissued an “overweight” rating and set a $75.00 target price (up previously from $60.00) on shares of Semtech in a research report on Tuesday. Finally, Susquehanna raised their target price on 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.com, Semtech presently has a consensus rating of “Moderate Buy” and an average price target of $67.70.

Semtech Trading Up 1.7 %

SMTC opened at $64.20 on Tuesday. Semtech has a 1-year low of $15.63 and a 1-year high of $66.64. The stock has a market cap of $4.83 billion, a PE ratio of -4.86 and a beta of 1.54. The stock’s fifty day simple moving average is $46.24 and its 200 day simple moving average is $39.12.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $232.89 million. Semtech had a negative net margin of 99.08% 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 quarter in the previous year, the firm posted $0.02 EPS. Equities analysts forecast that Semtech will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Semtech

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Semtech by 1.6% during the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after purchasing an additional 131,133 shares during the last quarter. Millennium Management LLC grew its stake in Semtech by 26.6% in the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after purchasing an additional 765,877 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in shares of Semtech by 4.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after purchasing an additional 114,999 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Semtech by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock worth $73,883,000 after buying an additional 119,572 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in Semtech during the second quarter worth about $43,395,000.

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.