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.
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.
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