Semtech (NASDAQ:SMTC) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other brokerages have also issued reports on SMTC. B. Riley reissued a “buy” rating and set a $46.00 price objective (down from $48.00) on shares of Semtech in a report on Monday, November 27th. Zacks Investment Research raised shares of Semtech from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Drexel Hamilton reissued a “buy” rating and set a $45.00 price objective on shares of Semtech in a report on Thursday, August 31st. Oppenheimer reaffirmed a “buy” rating and issued a $42.00 price target on shares of Semtech in a report on Sunday, November 19th. Finally, BWS Financial assumed coverage on shares of Semtech in a report on Monday, November 20th. They issued a “buy” rating and a $49.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $43.29.

Shares of Semtech (NASDAQ:SMTC) traded up $1.05 during mid-day trading on Thursday, reaching $33.55. 657,172 shares of the company traded hands, compared to its average volume of 484,103. The stock has a market capitalization of $2,223.01, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 5.54 and a beta of 1.41. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.32. Semtech has a 12 month low of $30.60 and a 12 month high of $41.95.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The company had revenue of $156.60 million for the quarter, compared to analyst estimates of $155.69 million. Semtech had a net margin of 7.79% and a return on equity of 12.13%. Semtech’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. analysts anticipate that Semtech will post 1.21 EPS for the current fiscal year.

In other Semtech news, insider Mohan Maheswaran sold 2,500 shares of Semtech stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $37.76, for a total value of $94,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Emeka Chukwu sold 2,000 shares of Semtech stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $37.72, for a total transaction of $75,440.00. Following the completion of the transaction, the chief financial officer now directly owns 77,776 shares in the company, valued at $2,933,710.72. The disclosure for this sale can be found here. Insiders sold 52,723 shares of company stock worth $2,060,117 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Large investors have recently bought and sold shares of the company. Stephens Investment Management Group LLC lifted its stake in shares of Semtech by 4.5% during the third quarter. Stephens Investment Management Group LLC now owns 1,129,920 shares of the semiconductor company’s stock worth $42,428,000 after buying an additional 49,111 shares during the period. State Street Corp lifted its stake in shares of Semtech by 4.8% during 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 during the period. California Public Employees Retirement System lifted its stake in shares of Semtech by 5.8% during the second quarter. California Public Employees Retirement System now owns 138,700 shares of the semiconductor company’s stock worth $4,959,000 after buying an additional 7,600 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Semtech by 49.7% during the second quarter. Public Employees Retirement System of Ohio now owns 167,926 shares of the semiconductor company’s stock worth $6,003,000 after buying an additional 55,714 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Semtech by 10.5% during the second quarter. Parametric Portfolio Associates LLC now owns 138,606 shares of the semiconductor company’s stock worth $4,955,000 after buying an additional 13,182 shares during the period. 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.

Analyst Recommendations for Semtech (NASDAQ:SMTC)

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