Semtech (NASDAQ:SMTC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Semtech is currently riding on 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. The company’s fiscal third quarter 2018 earnings improved both sequentially and year over year. However, concerns about the company’s exposure to seasonality, a competitive market and foreign exchange risk persist. On a year-to-date basis, the stock has underperformed the industry it belongs to.”

SMTC has been the subject of several other reports. Drexel Hamilton restated a “buy” rating and set a $45.00 target price on shares of Semtech in a research report on Thursday, November 30th. Oppenheimer restated a “buy” rating and set a $42.00 target price on shares of Semtech in a research report on Thursday, November 30th. B. Riley restated a “buy” rating and set a $48.00 target price on shares of Semtech in a research report on Sunday, September 3rd. BWS Financial set a $49.00 target price on shares of Semtech and gave the company a “buy” rating in a research report on Thursday, November 30th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $34.00 target price on shares of Semtech in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $43.29.

Shares of Semtech (NASDAQ SMTC) traded down $0.25 during mid-day trading on Tuesday, hitting $33.80. 891,400 shares of the stock were exchanged, compared to its average volume of 481,990. Semtech has a 52-week low of $30.00 and a 52-week high of $41.95. The company has a market capitalization of $2,259.50, a price-to-earnings ratio of 29.35, a PEG ratio of 5.54 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.80 and a quick ratio of 3.20.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. Semtech had a net margin of 7.79% and a return on equity of 12.13%. The firm had revenue of $156.60 million during the quarter, compared to analyst estimates of $155.69 million. During the same period in the previous year, the business posted $0.37 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. sell-side analysts forecast that Semtech will post 1.23 EPS for the current year.

In other Semtech news, VP Mark C. Costello sold 897 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $36.27, for a total value of $32,534.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mohan Maheswaran sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $35.64, for a total transaction of $89,100.00. Following the completion of the transaction, the insider now owns 220,372 shares of the company’s stock, valued at $7,854,058.08. The disclosure for this sale can be found here. Insiders have sold 53,620 shares of company stock valued at $2,092,651 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its position in shares of Semtech by 15.5% in the second quarter. FMR LLC now owns 8,376,134 shares of the semiconductor company’s stock worth $299,446,000 after purchasing an additional 1,124,083 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Semtech by 1.3% in the second quarter. Vanguard Group Inc. now owns 6,080,648 shares of the semiconductor company’s stock worth $217,384,000 after buying an additional 75,993 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of Semtech by 21.1% in the second quarter. Frontier Capital Management Co. LLC now owns 2,634,349 shares of the semiconductor company’s stock worth $94,178,000 after buying an additional 459,808 shares in the last quarter. State Street Corp lifted its holdings in shares of Semtech by 4.8% in the second quarter. State Street Corp now owns 1,902,288 shares of the semiconductor company’s stock worth $68,013,000 after buying an additional 86,399 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of Semtech by 29.7% in the second quarter. Macquarie Group Ltd. now owns 1,352,123 shares of the semiconductor company’s stock worth $48,338,000 after buying an additional 309,928 shares in the last quarter. Institutional investors and hedge funds own 94.23% of the company’s stock.

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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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