Needham & Company LLC restated their buy rating on shares of Semtech (NASDAQ:SMTC) in a report issued on Thursday morning. They currently have a $42.00 price objective on the semiconductor company’s stock.
Other analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Semtech from a sell rating to a hold rating in a research note on Thursday, January 11th. Royal Bank of Canada reiterated a hold rating and issued a $39.00 price target on shares of Semtech in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Semtech from a sell rating to a hold rating in a research note 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 target on the stock. Finally, Oppenheimer reiterated a buy rating and issued a $42.00 price target on shares of Semtech in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $41.90.
Shares of Semtech (SMTC) traded down $0.15 during mid-day trading on Thursday, reaching $37.85. 488,021 shares of the company’s stock traded hands, compared to its average volume of 447,789. The stock has a market cap of $2,511.65, a PE ratio of 54.86, a P/E/G ratio of 6.26 and a beta of 1.41. Semtech has a 1-year low of $31.50 and a 1-year high of $41.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.20 and a current ratio of 3.80.
Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.50 by $0.04. The business had revenue of $156.60 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. research analysts forecast that Semtech will post 1.21 EPS for the current fiscal year.
In other news, insider Mohan Maheswaran sold 2,500 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $38.98, for a total value of $97,450.00. Following the sale, the insider now directly owns 210,372 shares in the company, valued at approximately $8,200,300.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Michael Wilson sold 10,000 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $35.78, for a total transaction of $357,800.00. Following the completion of the sale, the executive vice president now owns 84,066 shares in the company, valued at $3,007,881.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,534 shares of company stock worth $1,715,752. Insiders own 2.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of SMTC. Zurcher Kantonalbank Zurich Cantonalbank increased 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 buying an additional 65 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Semtech in the 3rd quarter worth about $133,000. Victory Capital Management Inc. grew its holdings in Semtech by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,773 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 717 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in Semtech by 65.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,130 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 2,030 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Semtech during the 3rd quarter valued at about $204,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.
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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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