Semtech Corp. Given Average Rating of “Hold” by Brokerages (NASDAQ:SMTC)
Semtech Corp. (NASDAQ:SMTC) has earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, AnalystRatingsNetwork reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $31.17.
Shares of Semtech Corp. (NASDAQ:SMTC) opened at 26.62 on Thursday. Semtech Corp. has a 1-year low of $21.38 and a 1-year high of $32.72. The stock has a 50-day moving average of $23.79 and a 200-day moving average of $24.88. The company’s market cap is $1.789 billion.
Semtech Corp. (NASDAQ:SMTC) last released its earnings data 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.
A number of research firms have recently commented on SMTC. Analysts at Goldman Sachs initiated coverage on shares of Semtech Corp. in a research note on Thursday, August 28th. They set a “buy” rating and a $31.00 price target on the stock. Separately, 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. Finally, 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.
In other Semtech Corp. news, CFO Emeka Chukwu sold 2,500 shares of the company’s stock on the open market in a transaction dated Friday, August 29th. The stock was sold at an average price of $25.85, for a total transaction of $64,625.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Semtech Corporation (NASDAQ:SMTC) is a supplier of analog and mixed-signal semiconductor products.
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