Semtech (NASDAQ:SMTC)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued on Thursday. They currently have a $42.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 10.53% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Semtech from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $39.00 price target on shares of Semtech in a report on Tuesday, October 3rd. Zacks Investment Research raised shares of Semtech from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. BWS Financial began coverage on shares of Semtech in a research note on Monday, November 20th. They issued a “buy” rating and a $49.00 price objective on the stock. Finally, Oppenheimer reiterated a “buy” rating and issued a $42.00 price objective on shares of Semtech in a research note on Thursday, November 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $41.90.

Semtech (NASDAQ:SMTC) traded up $0.05 during midday trading on Thursday, hitting $38.00. 885,750 shares of the company’s stock were exchanged, compared to its average volume of 600,896. The stock has a market capitalization of $2,538.21, a PE ratio of 55.07, a P/E/G ratio of 6.32 and a beta of 1.41. Semtech has a fifty-two week low of $31.50 and a fifty-two week high of $41.95. 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 (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.04. The business had revenue of $156.60 million during the quarter, compared to analysts’ expectations of $155.69 million. Semtech had a net margin of 7.79% and a return on equity of 12.13%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.37 earnings per share. sell-side analysts forecast that Semtech will post 1.21 earnings per share for the current year.

In related news, Director James T. Lindstrom sold 2,534 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $33.81, for a total transaction of $85,674.54. Following the sale, the director now owns 20,000 shares in the company, valued at $676,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mohan Maheswaran sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $37.76, for a total transaction of $94,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,534 shares of company stock worth $1,715,752. 2.10% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC grew its position in Semtech by 15.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,465,395 shares of the semiconductor company’s stock valued at $84,317,000 after buying an additional 336,213 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Semtech by 9.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 360,625 shares of the semiconductor company’s stock valued at $12,334,000 after purchasing an additional 31,317 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Semtech by 6.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the semiconductor company’s stock valued at $975,000 after purchasing an additional 1,700 shares during the period. Sterling Capital Management LLC grew its position in shares of Semtech by 85.9% in the third quarter. Sterling Capital Management LLC now owns 75,770 shares of the semiconductor company’s stock valued at $2,845,000 after purchasing an additional 35,005 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Semtech by 6.4% in the third quarter. California Public Employees Retirement System now owns 147,572 shares of the semiconductor company’s stock valued at $5,541,000 after purchasing an additional 8,872 shares during the period. Institutional investors own 93.99% 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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