Investment analysts at BWS Financial assumed coverage on shares of Semtech (NASDAQ:SMTC) in a research note issued on Monday, November 20th, Marketbeat reports. The firm set a “buy” rating and a $49.00 price target on the semiconductor company’s stock. BWS Financial’s target price would suggest a potential upside of 46.05% from the stock’s previous close.
Other analysts have also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and set a $48.00 price objective on shares of Semtech in a research note on Sunday, September 3rd. Drexel Hamilton reissued a “buy” rating and set a $45.00 price target on shares of Semtech in a research note on Thursday, August 31st. Oppenheimer restated a “buy” rating and issued a $42.00 price objective on shares of Semtech in a report on Sunday, August 27th. BidaskClub lowered shares of Semtech from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Finally, Zacks Investment Research upgraded shares of Semtech from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $43.29.
Shares of Semtech (SMTC) traded up $1.05 on Monday, hitting $33.55. 657,172 shares of the stock were exchanged, compared to its average volume of 484,103. The firm has a market capitalization of $2,223.01, a price-to-earnings ratio of 28.88, a P/E/G 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 has a 1-year low of $30.60 and a 1-year high of $41.95.
Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.04. The business 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 revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. equities research analysts predict that Semtech will post 1.21 earnings per share for the current year.
In other Semtech news, insider Mohan Maheswaran sold 2,500 shares of Semtech stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $37.76, for a total value of $94,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Emeka Chukwu sold 2,000 shares of Semtech stock in a transaction dated 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 sale, the chief financial officer now owns 77,776 shares of the company’s stock, valued at approximately $2,933,710.72. The disclosure for this sale can be found here. In the last three months, insiders sold 52,723 shares of company stock valued at $2,060,117. Insiders own 2.10% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its position in shares of Semtech by 5.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 279,367 shares of the semiconductor company’s stock valued at $9,443,000 after buying an additional 14,823 shares in the last quarter. Credit Suisse AG raised its position in shares of Semtech by 31.5% in the 1st quarter. Credit Suisse AG now owns 147,310 shares of the semiconductor company’s stock valued at $4,979,000 after buying an additional 35,285 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Semtech by 11.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 21,400 shares of the semiconductor company’s stock valued at $723,000 after buying an additional 2,200 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Semtech by 78.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 12,975 shares of the semiconductor company’s stock valued at $463,000 after buying an additional 5,695 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Semtech by 2.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,370 shares of the semiconductor company’s stock valued at $228,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 94.23% of the company’s stock.
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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.
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