Semtech Corp. (NASDAQ:SMTC) Receives Average Rating of “Buy” from Analysts
Shares of Semtech Corp. (NASDAQ:SMTC) have been assigned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm. Five investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.75.
Several brokerages recently weighed in on SMTC. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Semtech Corp. in a research note on Monday, September 5th. B. Riley reaffirmed a “buy” rating and set a $35.00 target price on shares of Semtech Corp. in a research note on Sunday, September 4th. Drexel Hamilton upped their target price on shares of Semtech Corp. from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, September 1st. Zacks Investment Research downgraded shares of Semtech Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, MKM Partners reaffirmed a “hold” rating on shares of Semtech Corp. in a research note on Thursday, June 23rd.
In other news, VP Mark C. Costello sold 3,042 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $27.47, for a total value of $83,563.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mohan Maheswaran sold 1,500 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $26.00, for a total transaction of $39,000.00. Following the completion of the transaction, the insider now owns 184,867 shares of the company’s stock, valued at approximately $4,806,542. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.
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Several hedge funds and other institutional investors have recently modified their holdings of SMTC. Mason Street Advisors LLC bought a new position in shares of Semtech Corp. during the second quarter valued at about $304,000. Personal Capital Advisors Corp boosted its position in shares of Semtech Corp. by 15.3% in the second quarter. Personal Capital Advisors Corp now owns 468,832 shares of the company’s stock valued at $11,186,000 after buying an additional 62,190 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Semtech Corp. by 5.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 216,720 shares of the company’s stock valued at $5,171,000 after buying an additional 10,332 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Semtech Corp. during the second quarter valued at about $444,000. Finally, Numeric Investors LLC boosted its position in shares of Semtech Corp. by 289.0% in the second quarter. Numeric Investors LLC now owns 163,000 shares of the company’s stock valued at $3,889,000 after buying an additional 121,100 shares during the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.
Semtech Corp. (NASDAQ:SMTC) traded down 0.61% during midday trading on Friday, hitting $27.49. 148,770 shares of the stock traded hands. The company has a 50-day moving average price of $27.02 and a 200 day moving average price of $24.19. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 65.30 and a beta of 1.37. Semtech Corp. has a one year low of $15.70 and a one year high of $28.21.
Semtech Corp. (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $135.90 million for the quarter. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. Semtech Corp.’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. Equities research analysts anticipate that Semtech Corp. will post $1.34 earnings per share for the current year.
Semtech Corp. Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company’s product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability. It designs, develops and markets a portfolio of optical communications, broadcast video, surveillance video, active cable transceiver and backplane products used in enterprise computing, industrial, communications and consumer applications.
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