Goldman Sachs Initiates Coverage on Semtech Corp. (SMTC)
In other Semtech Corp. news, CEO Mohan Maheswaran sold 4,400 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $24.87, for a total value of $109,428.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on SMTC. Analysts at MKM Partners raised their price target on shares of Semtech Corp. from $33.00 to $34.00 in a research note on Thursday, August 21st. They now have a “buy” rating on the stock. Separately, 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, August 21st. Finally, 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.20.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 24.90 on Thursday. Semtech Corp. has a 1-year low of $21.38 and a 1-year high of $32.72. The stock’s 50-day moving average is $23.7 and its 200-day moving average is $24.78. The company’s market cap is $1.673 billion.
Semtech Corp. (NASDAQ:SMTC) last announced its earnings results on Wednesday, August 20th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.03. The company had revenue of $145.70 million for the quarter. During the same quarter last year, the company posted $0.52 earnings per share. Semtech Corp.’s revenue was down 11.7% compared to the same quarter last year. Analysts expect that Semtech Corp. will post $1.61 EPS for the current fiscal year.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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