Semtech (SMTC) Reaches New 1-Year High and Low Following Analyst Upgrade

Semtech Co. (NASDAQ:SMTC) shares hit a new 52-week high and low during trading on Friday after Oppenheimer raised their price target on the stock from $42.00 to $50.00. Oppenheimer currently has an outperform rating on the stock. Semtech traded as low as $45.45 and last traded at $45.00, with a volume of 21905 shares changing hands. The stock had previously closed at $44.20.

Several other brokerages also recently commented on SMTC. Royal Bank of Canada raised shares of Semtech from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 9th. They noted that the move was a valuation call. BidaskClub raised shares of Semtech from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. ValuEngine raised shares of Semtech from a “hold” rating to a “buy” rating in a report on Tuesday, March 20th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Semtech in a report on Friday, March 23rd. Finally, Piper Jaffray Companies raised shares of Semtech from a “neutral” rating to an “overweight” rating and set a $35.00 price target for the company in a report on Wednesday, April 4th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Semtech currently has a consensus rating of “Buy” and a consensus price target of $44.33.

In other news, SVP Asaf Silberstein sold 1,500 shares of the firm’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $40.50, for a total transaction of $60,750.00. Following the sale, the senior vice president now owns 42,876 shares in the company, valued at approximately $1,736,478. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP James Jungsup Kim sold 13,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $34.79, for a total transaction of $452,270.00. Following the sale, the senior vice president now owns 54,612 shares in the company, valued at approximately $1,899,951.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,463 shares of company stock worth $3,817,713. Corporate insiders own 2.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. Suntrust Banks Inc. purchased a new position in Semtech in the 4th quarter worth $237,000. Wells Fargo & Company MN raised its position in Semtech by 16.9% in the 4th quarter. Wells Fargo & Company MN now owns 582,742 shares of the semiconductor company’s stock worth $19,930,000 after purchasing an additional 84,044 shares during the period. Clearbridge LLC increased its position in shares of Semtech by 10.5% in the fourth quarter. Clearbridge LLC now owns 339,212 shares of the semiconductor company’s stock valued at $11,601,000 after acquiring an additional 32,240 shares during the period. Deutsche Bank AG increased its position in shares of Semtech by 33.4% in the fourth quarter. Deutsche Bank AG now owns 176,631 shares of the semiconductor company’s stock valued at $6,038,000 after acquiring an additional 44,199 shares during the period. Finally, BlackRock Inc. increased its position in shares of Semtech by 0.7% in the fourth quarter. BlackRock Inc. now owns 8,308,393 shares of the semiconductor company’s stock valued at $284,147,000 after acquiring an additional 56,028 shares during the period. Institutional investors own 96.54% of the company’s stock.

The stock has a market cap of $2.89 billion, a PE ratio of 32.25, a PEG ratio of 7.61 and a beta of 1.20. 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 (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, March 14th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Semtech had a net margin of 6.20% and a return on equity of 13.34%. The firm had revenue of $142.11 million for the quarter, compared to analysts’ expectations of $140.49 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. analysts forecast that Semtech Co. will post 1.15 earnings per share for the current fiscal year.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.

Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Ferguson  Price Target Increased to GBX 6,650 by Analysts at Citigroup
Ferguson Price Target Increased to GBX 6,650 by Analysts at Citigroup
KINGDEE Intl SO  Stock Rating Lowered by Zacks Investment Research
KINGDEE Intl SO Stock Rating Lowered by Zacks Investment Research
Head to Head Review: Diversified Restaurant  & Jack in the Box
Head to Head Review: Diversified Restaurant & Jack in the Box
Head to Head Analysis: Gentex  versus Cooper Standard
Head to Head Analysis: Gentex versus Cooper Standard
Boenning Scattergood Comments on Northwest Bancshares, Inc.’s FY2019 Earnings
Boenning Scattergood Comments on Northwest Bancshares, Inc.’s FY2019 Earnings
Financial Survey: Enable Midstream Partners  and American Midstream Partners
Financial Survey: Enable Midstream Partners and American Midstream Partners


© 2006-2018 Ticker Report. Google+.