Stifel Nicolaus Lowers Semtech (NASDAQ:SMTC) Price Target to $35.00

Semtech (NASDAQ:SMTC) had its price objective cut by Stifel Nicolaus from $54.00 to $35.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other analysts also recently issued reports on the company. Craig Hallum reduced their price objective on Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Piper Sandler restated an “overweight” rating and issued a $55.00 target price (down from $75.00) on shares of Semtech in a report on Monday, February 10th. Benchmark lowered their price target on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a report on Friday, March 14th. Robert W. Baird reduced their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, UBS Group decreased their target price on shares of Semtech from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.33.

Semtech Trading Up 0.9 %

NASDAQ:SMTC opened at $26.22 on Thursday. Semtech has a twelve month low of $24.72 and a twelve month high of $79.52. The company has a market capitalization of $2.27 billion, a P/E ratio of -2.01, a price-to-earnings-growth ratio of 2.12 and a beta of 1.85. The firm has a 50-day moving average price of $34.43 and a two-hundred day moving average price of $49.23.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share 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 analysts’ expectations of $249.40 million. During the same period last year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, equities research analysts predict that Semtech will post -0.02 earnings per share for the current year.

Insider Activity

In other news, CFO Mark Lin sold 2,907 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $37.71, for a total transaction of $109,622.97. Following the completion of the sale, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. The trade was a 17.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 16,787 shares of company stock valued at $665,044 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SMTC. Hollencrest Capital Management acquired a new stake in shares of Semtech in the fourth quarter worth $31,000. Dunhill Financial LLC acquired a new position in shares of Semtech during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC boosted its position in Semtech by 190.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 505 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Semtech in the 4th quarter valued at $52,000. Finally, NBC Securities Inc. raised its position in Semtech by 104,700.0% in the first quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 1,047 shares during the period.

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.