Shares of Semtech Corp. (NASDAQ:SMTC) have been given an average recommendation of “Buy” by the eight brokerages that are currently covering the firm. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $28.75.
A number of brokerages have commented on SMTC. B. Riley reiterated a “buy” rating and set a $31.50 target price on shares of Semtech Corp. in a report on Monday, June 20th. Drexel Hamilton increased their target price on Semtech Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, September 1st. Zacks Investment Research cut Semtech Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. MKM Partners reiterated a “hold” rating on shares of Semtech Corp. in a report on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Semtech Corp. in a report on Monday, September 5th.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 27.53 on Friday. The stock has a market cap of $1.81 billion, a P/E ratio of 65.39 and a beta of 1.37. The company has a 50 day moving average price of $27.07 and a 200 day moving average price of $24.23. Semtech Corp. has a 12-month low of $15.70 and a 12-month high of $28.21.
Semtech Corp. (NASDAQ:SMTC) last announced its earnings results on Wednesday, August 31st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $135.90 million for the quarter. Semtech Corp. had a return on equity of 8.89% and a net margin of 5.55%. Semtech Corp.’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. Analysts anticipate that Semtech Corp. will post $1.34 earnings per share for the current fiscal year.
In related news, VP Mark C. Costello sold 3,042 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $27.47, for a total value of $83,563.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mohan Maheswaran sold 1,500 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $26.00, for a total value of $39,000.00. Following the completion of the transaction, 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. 2.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Creative Planning raised its position in shares of Semtech Corp. by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the company’s stock valued at $156,000 after buying an additional 28 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Semtech Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the company’s stock valued at $690,000 after buying an additional 200 shares during the period. PineBridge Investments L.P. raised its position in shares of Semtech Corp. by 4.4% in the second quarter. PineBridge Investments L.P. now owns 8,278 shares of the company’s stock valued at $198,000 after buying an additional 348 shares during the period. Allianz Asset Management AG raised its position in shares of Semtech Corp. by 3.9% in the second quarter. Allianz Asset Management AG now owns 10,790 shares of the company’s stock valued at $257,000 after buying an additional 405 shares during the period. Finally, Cipher Capital LP raised its position in shares of Semtech Corp. by 0.7% in the second quarter. Cipher Capital LP now owns 63,325 shares of the company’s stock valued at $1,511,000 after buying an additional 457 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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