Semtech (NASDAQ:SMTC) Cut to Hold at BWS Financial

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BWS Financial downgraded shares of Semtech (NASDAQ:SMTC) from a buy rating to a hold rating in a research note published on Friday morning, Briefing.com Automated Import reports. BWS Financial currently has $50.00 price target on the semiconductor company’s stock, down from their prior price target of $70.00.

SMTC has been the subject of a number of other reports. Cowen cut their price target on Semtech from $56.00 to $54.00 and set an outperform rating for the company in a report on Monday, September 9th. ValuEngine cut Semtech from a strong-buy rating to a buy rating in a report on Saturday, October 5th. B. Riley lowered their price objective on Semtech from $60.00 to $55.00 and set a buy rating for the company in a research report on Thursday, August 29th. BidaskClub upgraded Semtech from a hold rating to a buy rating in a research report on Thursday, October 31st. Finally, Piper Jaffray Companies lifted their price objective on Semtech from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Semtech has an average rating of Buy and an average price target of $49.17.

Shares of Semtech stock traded up $0.29 during trading on Friday, reaching $50.99. The company’s stock had a trading volume of 6,311 shares, compared to its average volume of 267,759. The stock has a 50-day moving average price of $50.65 and a two-hundred day moving average price of $47.79. The company has a current ratio of 4.10, a quick ratio of 3.42 and a debt-to-equity ratio of 0.27. Semtech has a one year low of $39.54 and a one year high of $57.96. The stock has a market capitalization of $3.49 billion, a P/E ratio of 38.35, a price-to-earnings-growth ratio of 4.13 and a beta of 1.93.

Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, August 28th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. Semtech had a return on equity of 12.91% and a net margin of 7.34%. The business had revenue of $137.10 million during the quarter, compared to analysts’ expectations of $134.85 million. During the same period in the previous year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was down 16.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Semtech will post 1.06 EPS for the current fiscal year.

In other news, EVP Asaf Silberstein sold 6,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $55.00, for a total transaction of $330,000.00. Following the completion of the transaction, the executive vice president now directly owns 50,653 shares in the company, valued at approximately $2,785,915. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Alisair Fulton sold 709 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $49.38, for a total value of $35,010.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,717 shares of company stock valued at $1,262,791. Corporate insiders own 1.96% of the company’s stock.

Several institutional investors have recently bought and sold shares of SMTC. Nuveen Asset Management LLC acquired a new position in shares of Semtech during the 2nd quarter worth about $38,749,000. JPMorgan Chase & Co. grew its position in shares of Semtech by 80.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,577,500 shares of the semiconductor company’s stock worth $76,067,000 after buying an additional 704,376 shares during the period. Prudential PLC grew its position in shares of Semtech by 127.6% during the 2nd quarter. Prudential PLC now owns 990,900 shares of the semiconductor company’s stock worth $47,613,000 after buying an additional 555,500 shares during the period. Invesco Ltd. grew its position in shares of Semtech by 19.5% during the 2nd quarter. Invesco Ltd. now owns 3,183,581 shares of the semiconductor company’s stock worth $152,970,000 after buying an additional 520,483 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Semtech by 1,022.5% during the 2nd quarter. AQR Capital Management LLC now owns 430,187 shares of the semiconductor company’s stock worth $20,670,000 after buying an additional 391,863 shares during the period. Institutional investors own 97.36% of the company’s stock.

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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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