Semtech Corporation (SMTC) Given Average Rating of “Buy” by Brokerages
Shares of Semtech Corporation (NASDAQ:SMTC) have been assigned an average recommendation of “Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $43.50.
A number of equities analysts have issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Semtech Corporation in a research note on Thursday, October 5th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Semtech Corporation in a research note on Tuesday, October 3rd. Zacks Investment Research cut shares of Semtech Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Drexel Hamilton reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Semtech Corporation in a research note on Thursday, August 31st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Semtech Corporation in a research note on Sunday, August 27th.
In other Semtech Corporation news, CFO Emeka Chukwu sold 2,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $39.89, for a total value of $79,780.00. Following the sale, the chief financial officer now directly owns 77,776 shares in the company, valued at $3,102,484.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Asaf Silberstein sold 1,957 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $39.58, for a total transaction of $77,458.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,751 shares of company stock worth $1,911,345. Company insiders own 2.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of SMTC. Russell Investments Group Ltd. raised its holdings in 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 period. Wells Fargo & Company MN raised its holdings in 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 period. Karp Capital Management Corp acquired a new stake in Semtech Corporation in the first quarter worth $474,000. Parametric Portfolio Associates LLC raised its holdings in Semtech Corporation by 2.0% in the first quarter. Parametric Portfolio Associates LLC now owns 125,424 shares of the semiconductor company’s stock worth $4,239,000 after purchasing an additional 2,428 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in Semtech Corporation in the first quarter worth $189,000. Institutional investors own 94.42% of the company’s stock.
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Semtech Corporation (SMTC) traded up 1.187% on Wednesday, hitting $40.475. The company’s stock had a trading volume of 354,246 shares. The company has a market capitalization of $2.68 billion, a P/E ratio of 42.605 and a beta of 1.45. The company has a 50 day moving average price of $36.88 and a 200-day moving average price of $36.20. Semtech Corporation has a 1-year low of $22.81 and a 1-year high of $41.15.
Semtech Corporation (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Semtech Corporation had a net margin of 11.00% and a return on equity of 11.77%. The firm had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $154.91 million. During the same period last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Semtech Corporation will post $1.89 earnings per share for the current fiscal year.
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.
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