Semtech Co. (SMTC) Receives Consensus Rating of “Buy” from Brokerages

Shares of Semtech Co. (NASDAQ:SMTC) have received a consensus rating of “Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $41.90.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Semtech from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. BidaskClub lowered shares of Semtech from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $42.00 target price on shares of Semtech in a report on Thursday, January 18th. Roth Capital assumed coverage on shares of Semtech in a report on Friday, January 5th. They issued a “buy” rating and a $39.00 target price for the company. Finally, Piper Jaffray Companies began coverage on shares of Semtech in a report on Monday, December 18th. They issued a “neutral” rating and a $35.00 target price for the company.

In related news, insider Mohan Maheswaran sold 11,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $35.16, for a total value of $386,760.00. Following the completion of the transaction, the insider now directly owns 203,672 shares of the company’s stock, valued at $7,161,107.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James Jungsup Kim sold 1,500 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $34.32, for a total transaction of $51,480.00. Following the completion of the transaction, the senior vice president now directly owns 24,600 shares of the company’s stock, valued at $844,272. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,284 shares of company stock valued at $1,888,945. Insiders own 2.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of SMTC. Vanguard Group Inc. grew 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 valued at $217,384,000 after purchasing an additional 75,993 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Semtech by 5.8% in the second quarter. California Public Employees Retirement System now owns 138,700 shares of the semiconductor company’s stock valued at $4,959,000 after purchasing an additional 7,600 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Semtech by 10.5% in the second quarter. Parametric Portfolio Associates LLC now owns 138,606 shares of the semiconductor company’s stock valued at $4,955,000 after purchasing an additional 13,182 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Semtech by 9.9% in the second quarter. Voya Investment Management LLC now owns 29,685 shares of the semiconductor company’s stock valued at $1,061,000 after purchasing an additional 2,680 shares in the last quarter. Finally, Shelton Capital Management purchased a new position in shares of Semtech in the second quarter valued at $233,000. 96.47% of the stock is owned by hedge funds and other institutional investors.

Semtech (SMTC) traded down $0.30 during trading on Tuesday, reaching $32.50. 628,600 shares of the company traded hands, compared to its average volume of 576,407. The stock has a market cap of $2,176.56, a price-to-earnings ratio of 47.10, a price-to-earnings-growth ratio of 4.40 and a beta of 1.41. Semtech has a one year low of $31.30 and a one year high of $41.95. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.32.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The company had revenue of $156.60 million during 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%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. analysts predict that Semtech will post 1.21 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece was first reported by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/13/semtech-co-smtc-receives-consensus-rating-of-buy-from-brokerages.html.

Semtech 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.

Analyst Recommendations for Semtech (NASDAQ:SMTC)

Receive News & Ratings for Semtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semtech and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply