Semtech Co. (NASDAQ:SMTC)‘s stock had its “buy” rating reissued by B. Riley in a report issued on Tuesday, May 16th. They presently have a $44.00 target price on the semiconductor company’s stock. B. Riley’s price target would indicate a potential upside of 18.60% from the company’s previous close.

SMTC has been the subject of several other reports. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $42.00 price objective (up from $36.00) on shares of Semtech in a research report on Monday, March 13th. Summit Redstone reiterated a “buy” rating on shares of Semtech in a research report on Thursday, January 19th. Royal Bank of Canada increased their price objective on shares of Semtech from $32.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 9th. Zacks Investment Research cut shares of Semtech from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, Drexel Hamilton reiterated a “buy” rating and set a $42.00 price objective (up from $35.00) on shares of Semtech in a research report on Thursday, March 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Semtech has an average rating of “Buy” and a consensus price target of $40.00.

Analyst Recommendations for Semtech (NASDAQ:SMTC)

Shares of Semtech (NASDAQ:SMTC) traded up 1.09% during mid-day trading on Tuesday, hitting $37.10. 208,153 shares of the company were exchanged. The company’s 50-day moving average price is $34.50 and its 200-day moving average price is $32.73. The firm has a market capitalization of $2.45 billion, a P/E ratio of 44.70 and a beta of 1.40. Semtech has a 12-month low of $21.35 and a 12-month high of $37.35.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, March 8th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $138.34 million. During the same period in the prior year, the company posted $0.17 EPS. The company’s revenue was up 18.0% on a year-over-year basis. Equities research analysts predict that Semtech will post $1.78 earnings per share for the current fiscal year.

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In related news, VP Mark C. Costello sold 2,441 shares of the stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $33.82, for a total transaction of $82,554.62. Following the transaction, the vice president now directly owns 2,440 shares of the company’s stock, valued at $82,520.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mohan Maheswaran sold 1,500 shares of the stock in a transaction on Monday, April 17th. The stock was sold at an average price of $32.00, for a total transaction of $48,000.00. Following the transaction, the insider now directly owns 198,311 shares in the company, valued at $6,345,952. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,312 shares of company stock worth $1,274,206. 2.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning raised its position in shares of 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 in the last quarter. Louisiana State Employees Retirement System raised its position 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 worth $804,000 after buying an additional 100 shares during the period. Aperio Group LLC raised its position in Semtech by 1.3% in the third quarter. Aperio Group LLC now owns 11,499 shares of the semiconductor company’s stock worth $319,000 after buying an additional 148 shares during the period. State of Alaska Department of Revenue raised its position 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 worth $246,000 after buying an additional 180 shares during the period. Finally, Martingale Asset Management L P raised its position 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 worth $2,286,000 after buying an additional 198 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

About Semtech

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.

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