Semtech Corp. (NASDAQ:SMTC)‘s stock had its “buy” rating reiterated by equities research analysts at Drexel Hamilton in a report released on Saturday. They presently have a $32.00 price target on the stock. Drexel Hamilton’s price target suggests a potential upside of 16.24% from the company’s current price.
Other equities analysts have also issued reports about the stock. B. Riley restated a “buy” rating and set a $31.50 price target on shares of Semtech Corp. in a research report on Monday, June 20th. Zacks Investment Research lowered shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. MKM Partners restated a “hold” rating on shares of Semtech Corp. in a research report on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Semtech Corp. in a research report on Monday, September 5th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.33.
Semtech Corp. (NASDAQ:SMTC) opened at 27.53 on Friday. The firm has a 50-day moving average of $27.07 and a 200-day moving average of $24.23. Semtech Corp. has a 52 week low of $15.70 and a 52 week high of $28.21. The company has a market capitalization of $1.81 billion, a P/E ratio of 65.39 and a beta of 1.37.
Semtech Corp. (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $135.90 million for the quarter. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Analysts anticipate that Semtech Corp. will post $1.34 EPS for the current fiscal year.
In other news, VP Mark C. Costello sold 3,042 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $27.47, for a total value of $83,563.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mohan Maheswaran sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $26.00, for a total transaction of $39,000.00. Following the completion of the sale, the insider now directly owns 184,867 shares in the company, valued at $4,806,542. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC bought a new stake in Semtech Corp. during the second quarter worth about $304,000. Personal Capital Advisors Corp increased its stake in Semtech Corp. by 15.3% in the second quarter. Personal Capital Advisors Corp now owns 468,832 shares of the company’s stock worth $11,186,000 after buying an additional 62,190 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Semtech Corp. by 5.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 216,720 shares of the company’s stock worth $5,171,000 after buying an additional 10,332 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Semtech Corp. during the second quarter worth about $444,000. Finally, Numeric Investors LLC increased its stake in Semtech Corp. by 289.0% in the second quarter. Numeric Investors LLC now owns 163,000 shares of the company’s stock worth $3,889,000 after buying an additional 121,100 shares during the period. 95.43% of the stock is currently owned by institutional investors and hedge funds.
Semtech Corp. Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
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