Semtech Corporation (NASDAQ:SMTC) has been given a consensus recommendation of “Buy” by the ten analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $43.50.

A number of equities research analysts recently weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $48.00 price objective on shares of Semtech Corporation in a research report on Tuesday, August 29th. Robert W. Baird reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Semtech Corporation in a research report on Tuesday, June 13th. BidaskClub cut Semtech Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Zacks Investment Research cut Semtech Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $39.00 price target on shares of Semtech Corporation in a research note on Thursday, July 6th.

Shares of Semtech Corporation (SMTC) traded up 0.85% during trading on Friday, reaching $35.75. The company’s stock had a trading volume of 762,043 shares. The stock has a market capitalization of $2.37 billion, a PE ratio of 37.79 and a beta of 1.45. The firm’s 50-day moving average is $37.44 and its 200-day moving average is $35.80. Semtech Corporation has a 12-month low of $22.81 and a 12-month high of $41.15.

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

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In other news, CFO Emeka Chukwu sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $39.89, for a total value of $79,780.00. Following the completion of the transaction, the chief financial officer now directly owns 77,776 shares in the company, valued at $3,102,484.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rockell N. Hankin sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $36.65, for a total value of $183,250.00. Following the completion of the transaction, the director now owns 154,940 shares of the company’s stock, valued at $5,678,551. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,873 shares of company stock valued at $2,278,082. 2.10% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in SMTC. Nationwide Fund Advisors raised its stake in shares of Semtech Corporation by 6.2% in the first quarter. Nationwide Fund Advisors now owns 142,408 shares of the semiconductor company’s stock worth $4,813,000 after purchasing an additional 8,288 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Semtech Corporation by 113.4% in the first quarter. Russell Investments Group Ltd. now owns 36,728 shares of the semiconductor company’s stock worth $1,242,000 after purchasing an additional 19,521 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Semtech Corporation by 79.4% in the first quarter. Wells Fargo & Company MN now owns 110,820 shares of the semiconductor company’s stock worth $3,746,000 after purchasing an additional 49,056 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Semtech Corporation by 6.3% in the first quarter. Great West Life Assurance Co. Can now owns 91,935 shares of the semiconductor company’s stock worth $3,103,000 after purchasing an additional 5,439 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Semtech Corporation by 34.1% in the first quarter. Advisors Asset Management Inc. now owns 3,002 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 764 shares during the last quarter. Hedge funds and other institutional investors own 94.43% of the company’s stock.

Semtech Corporation 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.

Analyst Recommendations for Semtech Corporation (NASDAQ:SMTC)

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