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Stock analysts at MKM Partners lifted their target price on shares of Semtech Corp. (NASDAQ:SMTC) from $33.00 to $34.00 in a report issued on Thursday. The firm currently has a “buy” rating on the stock. MKM Partners’ target price suggests a potential upside of 41.78% from the company’s current price.

In other Semtech Corp. news, CEO Mohan Maheswaran unloaded 2,500 shares of the stock on the open market in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $24.44, for a total value of $61,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Semtech Corp. (NASDAQ:SMTC) traded up 5.96% on Thursday, hitting $25.43. 831,615 shares of the company’s stock traded hands. Semtech Corp. has a 52-week low of $21.38 and a 52-week high of $32.72. The stock has a 50-day moving average of $23.82 and a 200-day moving average of $24.67. The company’s market cap is $1.711 billion.

Semtech Corp. (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, August 20th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.03. The company had revenue of $145.70 million for the quarter. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was down 11.7% on a year-over-year basis. Analysts expect that Semtech Corp. will post $1.61 EPS for the current fiscal year.

A number of other firms have also recently commented on SMTC. Analysts at RBC Capital raised their price target on shares of Semtech Corp. from $31.00 to $32.00 in a research note on Thursday. Analysts at Raymond James upgraded shares of Semtech Corp. from an “outperform” rating to a “strong-buy” rating in a research note on Monday, July 28th. They now have a $29.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $33.43.

Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.

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