Semtech Corporation (NASDAQ: SMTC) has recently received a number of price target changes and ratings updates:

  • 9/6/2017 – Semtech Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Semtech is a provider of analog and mixed-signal semiconductor products.  The company reported mixed fiscal second-quarter 2018 results with earnings beating the Zacks Consensus Estimate but revenues missing the same. Improved profitability was driven by differentiated growth drivers and diversification strategy. Key growth drivers for Semtech are product differentiation, operational flexibility and a specific focus on fast-growing segments and regions. However, concerns about the company’s exposure to seasonality, a competitive market and foreign exchange risk persist. In the last one year, the stock has outperformed the industry it belongs to.”
  • 9/3/2017 – Semtech Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $48.00 price target on the stock.
  • 8/31/2017 – Semtech Corporation had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $45.00 price target on the stock.
  • 8/29/2017 – Semtech Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $48.00 price target on the stock.
  • 8/27/2017 – Semtech Corporation had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $42.00 price target on the stock.
  • 8/24/2017 – Semtech Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $48.00 price target on the stock.
  • 8/18/2017 – Semtech Corporation was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.

Shares of Semtech Corporation (NASDAQ:SMTC) opened at 35.70 on Thursday. Semtech Corporation has a one year low of $22.81 and a one year high of $41.15. The stock has a market capitalization of $2.36 billion, a P/E ratio of 37.74 and a beta of 1.45. The stock’s 50 day moving average is $37.85 and its 200-day moving average is $35.79.

Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $153.10 million for the quarter, compared to the consensus estimate of $154.91 million. Semtech Corporation had a return on equity of 11.77% and a net margin of 11.00%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. On average, equities research analysts expect that Semtech Corporation will post $1.89 EPS for the current year.

In related news, EVP Charles B. Ammann sold 2,250 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $34.99, for a total value of $78,727.50. Following the transaction, the executive vice president now owns 14,905 shares in the company, valued at $521,525.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Glen M. Antle sold 5,579 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $35.82, for a total value of $199,839.78. The disclosure for this sale can be found here. Insiders sold a total of 59,373 shares of company stock worth $2,188,982 in the last quarter. 2.10% of the stock is owned by corporate insiders.

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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