ValuEngine upgraded shares of Semtech (NASDAQ:SMTC) from a hold rating to a buy rating in a research note published on Tuesday morning.
SMTC has been the subject of a number of other research reports. BWS Financial set a $49.00 target price on Semtech and gave the stock a buy rating in a report on Thursday, November 30th. BidaskClub upgraded Semtech from a strong sell rating to a sell rating in a report on Thursday, March 15th. Zacks Investment Research upgraded Semtech from a sell rating to a hold rating in a report on Tuesday, January 30th. Needham & Company LLC reiterated a buy rating and issued a $42.00 target price on shares of Semtech in a report on Thursday, January 18th. Finally, Royal Bank of Canada reiterated a hold rating and issued a $34.00 target price on shares of Semtech in a report on Thursday, November 30th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $43.44.
Semtech (NASDAQ SMTC) opened at $40.75 on Tuesday. The company has a market capitalization of $2,727.33, a P/E ratio of 74.09, a PEG ratio of 7.15 and a beta of 1.41. The company has a quick ratio of 3.09, a current ratio of 3.65 and a debt-to-equity ratio of 0.32. Semtech has a 1-year low of $31.30 and a 1-year high of $41.95.
Semtech (NASDAQ:SMTC) last announced its earnings results on Wednesday, March 14th. The semiconductor company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The firm had revenue of $142.11 million during the quarter, compared to analysts’ expectations of $140.49 million. Semtech had a return on equity of 13.34% and a net margin of 6.20%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. research analysts forecast that Semtech will post 1.15 earnings per share for the current year.
In related news, EVP John Michael Wilson sold 7,000 shares of the business’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $41.17, for a total transaction of $288,190.00. Following the completion of the transaction, the executive vice president now owns 82,419 shares in the company, valued at approximately $3,393,190.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Simon A. Brown sold 2,000 shares of the business’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $39.36, for a total value of $78,720.00. Following the transaction, the vice president now owns 16,142 shares of the company’s stock, valued at approximately $635,349.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,813 shares of company stock valued at $5,383,608. 2.10% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP purchased a new stake in shares of Semtech in the 3rd quarter worth $133,000. Teacher Retirement System of Texas purchased a new stake in shares of Semtech in the 3rd quarter worth $204,000. Stifel Financial Corp purchased a new stake in shares of Semtech in the 3rd quarter worth $209,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Semtech in the 4th quarter worth $215,000. Finally, Elkfork Partners LLC purchased a new stake in shares of Semtech in the 4th quarter worth $215,000. Institutional investors and hedge funds own 97.64% 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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