Semtech Co. (NASDAQ:SMTC)‘s stock had its “buy” rating restated by B. Riley in a research report issued to clients and investors on Sunday. They currently have a $44.00 price target on the semiconductor company’s stock. B. Riley’s price objective points to a potential upside of 24.82% from the stock’s current price.

A number of other research analysts also recently weighed in on SMTC. Robert W. Baird began coverage on shares of Semtech in a research report on Tuesday, May 9th. They set an “outperform” rating and a $45.00 target price for the company. Zacks Investment Research raised shares of Semtech from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. DA Davidson increased their target price on shares of Semtech from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, March 9th. Drexel Hamilton reissued a “buy” rating and set a $42.00 target price (up from $35.00) on shares of Semtech in a research report on Thursday, March 9th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $42.00 target price (up from $36.00) on shares of Semtech in a research report on Monday, March 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.00.

Analyst Recommendations for Semtech (NASDAQ:SMTC)

Shares of Semtech (NASDAQ:SMTC) traded down 0.56% during midday trading on Friday, reaching $35.25. 322,387 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $34.03 and a 200 day moving average price of $32.34. Semtech has a 12 month low of $21.27 and a 12 month high of $37.35. The firm has a market cap of $2.33 billion, a PE ratio of 42.47 and a beta of 1.40.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, March 8th. The semiconductor company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. Semtech had a net margin of 9.16% and a return on equity of 10.40%. The firm had revenue of $140 million during the quarter, compared to the consensus estimate of $138.34 million. During the same period in the prior year, the firm earned $0.17 EPS. The company’s revenue was up 18.0% compared to the same quarter last year. Equities research analysts predict that Semtech will post $1.78 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This story was originally published by American Banking News and is the property of of American Banking News. If you are viewing this story on another domain, it was illegally stolen and republished in violation of US and international copyright and trademark legislation. The original version of this story can be read at https://www.americanbankingnews.com/2017/05/21/semtech-co-smtc-receives-buy-rating-from-b-riley.html.

In other Semtech news, insider Mohan Maheswaran sold 1,500 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $36.27, for a total value of $54,405.00. Following the sale, the insider now directly owns 196,811 shares in the company, valued at approximately $7,138,334.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark C. Costello sold 2,441 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $33.82, for a total transaction of $82,554.62. Following the completion of the sale, the vice president now owns 2,440 shares in the company, valued at $82,520.80. The disclosure for this sale can be found here. Insiders sold a total of 37,312 shares of company stock worth $1,274,206 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Creative Planning boosted its stake in Semtech by 0.4% in the second quarter. Creative Planning now owns 6,528 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 28 shares during the period. Louisiana State Employees Retirement System boosted its stake in Semtech by 0.3% in the third quarter. Louisiana State Employees Retirement System now owns 29,000 shares of the semiconductor company’s stock valued at $804,000 after buying an additional 100 shares during the period. Aperio Group LLC boosted its stake in Semtech by 1.3% in the third quarter. Aperio Group LLC now owns 11,499 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 148 shares during the period. State of Alaska Department of Revenue boosted its stake in Semtech by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 7,280 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 180 shares during the period. Finally, Martingale Asset Management L P boosted its stake in Semtech by 0.3% in the first quarter. Martingale Asset Management L P now owns 67,624 shares of the semiconductor company’s stock valued at $2,286,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Semtech Company Profile

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

12 Month Chart for NASDAQ:SMTC

Receive News & Ratings for Semtech Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech Co. and related companies with MarketBeat.com's FREE daily email newsletter.