Semtech (NASDAQ:SMTC) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
A number of other equities research analysts have also recently commented on SMTC. Zacks Investment Research upgraded Semtech from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. Oppenheimer restated a “buy” rating and set a $42.00 target price on shares of Semtech in a research report on Thursday, November 30th. Drexel Hamilton restated a “buy” rating and set a $45.00 target price on shares of Semtech in a research report on Thursday, November 30th. Royal Bank of Canada restated a “hold” rating and set a $34.00 target price on shares of Semtech in a research report on Thursday, November 30th. Finally, BWS Financial set a $49.00 target price on Semtech and gave the company a “buy” rating in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $43.11.
Shares of Semtech (NASDAQ SMTC) opened at $40.95 on Thursday. Semtech has a 12-month low of $31.30 and a 12-month 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 3.65. The company has a market capitalization of $2,568.07, a PE ratio of 74.45, a PEG ratio of 5.19 and a beta of 1.41.
Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, March 14th. The semiconductor company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. Semtech had a return on equity of 13.34% and a net margin of 6.20%. The firm had revenue of $142.11 million for the quarter, compared to analysts’ expectations of $140.49 million. During the same period last year, the firm earned $0.37 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. analysts predict that Semtech will post 1.49 earnings per share for the current fiscal year.
In related news, SVP James Jungsup Kim sold 1,500 shares of the firm’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $34.32, for a total value of $51,480.00. Following the transaction, the senior vice president now directly owns 24,600 shares of the company’s stock, valued at approximately $844,272. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James T. Lindstrom sold 2,534 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $33.81, for a total transaction of $85,674.54. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $676,200. The disclosure for this sale can be found here. Insiders sold a total of 118,284 shares of company stock worth $4,088,955 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in Semtech in the 3rd quarter valued at about $133,000. Teacher Retirement System of Texas purchased a new position in Semtech in the 3rd quarter valued at about $204,000. Stifel Financial Corp purchased a new position in Semtech in the 3rd quarter valued at about $209,000. Xact Kapitalforvaltning AB purchased a new position in Semtech in the 4th quarter valued at about $215,000. Finally, Elkfork Partners LLC purchased a new position in Semtech in the 4th quarter valued at about $215,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.
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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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