Semtech (SMTC) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Semtech (NASDAQ:SMTC) from a sell rating to a hold rating in a research report released on Wednesday morning.

Several other research firms have also weighed in on SMTC. Royal Bank of Canada reissued a hold rating and set a $34.00 price objective on shares of Semtech in a research note on Thursday, November 30th. Zacks Investment Research raised Semtech from a sell rating to a hold rating in a research note on Tuesday, January 30th. BWS Financial set a $49.00 price objective on Semtech and gave the stock a buy rating in a research note on Thursday, November 30th. Roth Capital set a $45.00 price objective on Semtech and gave the stock a buy rating in a research note on Thursday, March 15th. Finally, Piper Jaffray Companies started coverage on Semtech in a research note on Monday, December 18th. They set a neutral rating and a $35.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $43.44.

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Shares of SMTC stock opened at $39.30 on Wednesday. The firm has a market capitalization of $2,710.74, a price-to-earnings ratio of 71.45, a PEG ratio of 7.09 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.65. Semtech has a one year low of $31.30 and a one year high of $41.95.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, March 14th. The semiconductor company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of $142.11 million during the quarter, compared to analyst estimates of $140.49 million. Semtech had a return on equity of 13.34% and a net margin of 6.20%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. research analysts anticipate that Semtech will post 1.15 earnings per share for the current year.

In other news, SVP James Jungsup Kim sold 1,500 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $34.32, for a total value of $51,480.00. Following the completion of the sale, the senior vice president now owns 24,600 shares of the company’s stock, valued at $844,272. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Emeka Chukwu sold 2,000 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $34.32, for a total value of $68,640.00. Following the completion of the sale, the chief financial officer now directly owns 71,776 shares of the company’s stock, valued at approximately $2,463,352.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 149,813 shares of company stock valued at $5,383,608. 2.10% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its holdings in shares of Semtech by 6.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the semiconductor company’s stock worth $975,000 after acquiring an additional 1,700 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Semtech by 1.9% during the third quarter. Rhumbline Advisers now owns 130,593 shares of the semiconductor company’s stock worth $4,904,000 after acquiring an additional 2,421 shares in the last quarter. American International Group Inc. raised its holdings in shares of Semtech by 5.8% during the third quarter. American International Group Inc. now owns 51,537 shares of the semiconductor company’s stock worth $1,935,000 after acquiring an additional 2,843 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Semtech during the third quarter worth $133,000. Finally, Profund Advisors LLC raised its holdings in shares of Semtech by 16.6% during the fourth quarter. Profund Advisors LLC now owns 25,535 shares of the semiconductor company’s stock worth $873,000 after acquiring an additional 3,640 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

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About Semtech

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

Analyst Recommendations for Semtech (NASDAQ:SMTC)

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