Semtech Co. (SMTC) Receives Average Recommendation of “Buy” from Brokerages

Shares of Semtech Co. (NASDAQ:SMTC) have been assigned an average rating of “Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $41.90.

SMTC has been the subject of a number of analyst reports. Royal Bank of Canada restated a “hold” rating and issued a $34.00 price objective on shares of Semtech in a research note on Thursday, November 30th. BidaskClub cut shares of Semtech from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. BWS Financial set a $49.00 target price on shares of Semtech and gave the company a “buy” rating in a research note on Thursday, November 30th. Zacks Investment Research upgraded shares of Semtech from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Oppenheimer reiterated a “buy” rating and set a $42.00 target price on shares of Semtech in a research note on Thursday, November 30th.

In other news, Director James T. Lindstrom sold 2,534 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $33.81, for a total value of $85,674.54. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $676,200. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Asaf Silberstein sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $40.72, for a total transaction of $40,720.00. Following the completion of the transaction, the senior vice president now owns 28,900 shares of the company’s stock, valued at approximately $1,176,808. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,534 shares of company stock valued at $1,715,752. Corporate insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SMTC. Schwab Charles Investment Management Inc. grew its holdings in shares of Semtech by 21.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 338,792 shares of the semiconductor company’s stock worth $12,112,000 after purchasing an additional 59,425 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Semtech by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,773 shares of the semiconductor company’s stock worth $171,000 after purchasing an additional 717 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Semtech by 2.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 65 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Semtech in the 2nd quarter worth about $217,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Semtech by 13.6% in the 2nd quarter. Wells Fargo & Company MN now owns 125,837 shares of the semiconductor company’s stock worth $4,499,000 after purchasing an additional 15,017 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Semtech (NASDAQ:SMTC) traded up $0.05 during trading on Friday, hitting $38.00. 885,700 shares of the stock were exchanged, compared to its average volume of 600,892. 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 has a twelve month low of $31.50 and a twelve month high of $41.95. The firm has a market capitalization of $2,518.30, a PE ratio of 55.07, a price-to-earnings-growth ratio of 6.27 and a beta of 1.41.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.04. Semtech had a net margin of 7.79% and a return on equity of 12.13%. The business had revenue of $156.60 million during the quarter, compared to analysts’ expectations of $155.69 million. During the same period in the previous year, the company earned $0.37 earnings per share. Semtech’s revenue for the quarter was up 11.1% on a year-over-year basis. equities research analysts anticipate that Semtech will post 1.21 EPS for the current year.

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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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