Needham & Company LLC reiterated their buy rating on shares of Semtech (NASDAQ:SMTC) in a research note issued to investors on Thursday, January 18th. The brokerage currently has a $42.00 target price on the semiconductor company’s stock.
Other research analysts also recently issued reports about the stock. BidaskClub raised shares of Semtech from a sell rating to a hold rating in a research report on Thursday, January 11th. Royal Bank of Canada reissued a hold rating and set a $39.00 target price on shares of Semtech in a research 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 report on Monday, November 20th. They issued a buy rating and a $49.00 price objective for the company. Finally, Oppenheimer reaffirmed a buy rating and issued a $42.00 price objective on shares of Semtech in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Semtech presently has an average rating of Buy and a consensus target price of $41.90.
Semtech (NASDAQ:SMTC) opened at $32.50 on Thursday. Semtech has a 52-week low of $31.30 and a 52-week high of $41.95. The firm has a market cap of $2,160.00, a P/E ratio of 47.79, a PEG ratio of 4.40 and a beta of 1.41. 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 released its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share for the quarter, beating 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 firm had revenue of $156.60 million during the quarter, compared to the consensus estimate of $155.69 million. During the same period in the prior year, the firm earned $0.37 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. sell-side analysts anticipate that Semtech will post 1.21 earnings per share for the current fiscal year.
In other Semtech news, SVP James Jungsup Kim sold 1,500 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $34.32, for a total value of $51,480.00. Following the sale, the senior vice president now directly owns 24,600 shares in the company, valued at approximately $844,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James T. Lindstrom sold 2,534 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $33.81, for a total transaction of $85,674.54. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at $676,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,284 shares of company stock valued at $1,888,945. 2.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its stake in Semtech by 15.5% in the 2nd quarter. FMR LLC now owns 8,376,134 shares of the semiconductor company’s stock worth $299,446,000 after purchasing an additional 1,124,083 shares in the last quarter. BlackRock Inc. lifted its stake in Semtech by 0.7% in the 4th quarter. BlackRock Inc. now owns 8,308,393 shares of the semiconductor company’s stock worth $284,147,000 after purchasing an additional 56,028 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Semtech by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,080,648 shares of the semiconductor company’s stock valued at $217,384,000 after buying an additional 75,993 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Semtech by 15.8% during the 4th 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 in the last quarter. Finally, State Street Corp raised its position in shares of Semtech by 4.8% during the 2nd quarter. State Street Corp now owns 1,902,288 shares of the semiconductor company’s stock valued at $68,013,000 after buying an additional 86,399 shares in the last quarter. Institutional investors and hedge funds own 96.47% 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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