Semtech Corp.’s (SMTC) “Buy” Rating Reaffirmed at B. Riley
Semtech Corp. (NASDAQ:SMTC)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a research note issued to investors on Thursday. They presently have a $37.00 target price on the stock. B. Riley’s target price indicates a potential upside of 34.40% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Drexel Hamilton increased their price target on shares of Semtech Corp. from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, September 1st. Zacks Investment Research downgraded shares of Semtech Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. MKM Partners reiterated a “hold” rating on shares of Semtech Corp. in a report on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Semtech Corp. in a report on Monday, September 5th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.33.
Semtech Corp. (NASDAQ:SMTC) traded down 0.47% during trading on Thursday, hitting $27.53. 349,499 shares of the stock traded hands. The stock has a 50 day moving average price of $27.07 and a 200-day moving average price of $24.23. The stock has a market cap of $1.81 billion, a P/E ratio of 65.39 and a beta of 1.37. Semtech Corp. has a 52-week low of $15.70 and a 52-week high of $28.21.
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Semtech Corp. (NASDAQ:SMTC) last issued its quarterly earnings results on Wednesday, August 31st. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Semtech Corp. had a net margin of 5.55% and a return on equity of 8.89%. The company had revenue of $135.90 million for the quarter. During the same quarter last year, the company posted $0.24 EPS. Semtech Corp.’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts anticipate that Semtech Corp. will post $1.34 EPS for the current fiscal year.
In related news, insider Mohan Maheswaran sold 1,500 shares of Semtech Corp. stock in a transaction on Monday, August 15th. The shares were sold at an average price of $26.00, for a total value of $39,000.00. Following the sale, the insider now owns 184,867 shares of the company’s stock, valued at approximately $4,806,542. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark C. Costello sold 3,042 shares of Semtech Corp. stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $27.47, for a total transaction of $83,563.74. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in Semtech Corp. by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the company’s stock worth $156,000 after buying an additional 28 shares in the last quarter. PineBridge Investments L.P. boosted its stake in Semtech Corp. by 4.4% in the second quarter. PineBridge Investments L.P. now owns 8,278 shares of the company’s stock worth $198,000 after buying an additional 348 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Semtech Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,134 shares of the company’s stock worth $218,000 after buying an additional 1,105 shares in the last quarter. Zacks Investment Management bought a new stake in Semtech Corp. during the second quarter worth about $224,000. Finally, Aspen Investment Management Inc bought a new stake in Semtech Corp. during the second quarter worth about $230,000. 95.43% of the stock is currently owned by hedge funds and other institutional investors.
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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