Semtech (NASDAQ:SMTC) has been given a $45.00 price objective by analysts at Roth Capital in a research note issued on Thursday, March 15th. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price objective indicates a potential upside of 10.02% from the stock’s previous close.
Several other research analysts also recently commented on SMTC. BidaskClub upgraded Semtech from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Oppenheimer reiterated a “buy” rating and issued a $42.00 price objective on shares of Semtech in a report on Thursday, November 30th. Zacks Investment Research upgraded Semtech from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Drexel Hamilton restated a “buy” rating and set a $45.00 price target on shares of Semtech in a report on Thursday, November 30th. Finally, Royal Bank of Canada restated a “hold” rating and set a $34.00 price target on shares of Semtech in a report on Thursday, November 30th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $43.44.
SMTC opened at $40.90 on Thursday. The stock has a market capitalization of $2,660.84, a PE ratio of 29.21, a P/E/G ratio of 6.96 and a beta of 1.18. The company has a current ratio of 3.65, a quick ratio of 3.09 and a debt-to-equity ratio of 0.32. Semtech has a 12 month low of $31.30 and a 12 month high of $41.95.
Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Wednesday, March 14th. The semiconductor company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The firm had revenue of $142.11 million for the quarter, compared to the consensus estimate 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 earnings per share. analysts predict that Semtech will post 1.15 earnings per share for the current year.
In related news, 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 transaction, the executive vice president now owns 84,066 shares in the company, valued at approximately $3,007,881.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Emeka Chukwu sold 1,900 shares of Semtech stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $39.00, for a total value of $74,100.00. Following the sale, the chief financial officer now directly owns 90,430 shares in the company, valued at $3,526,770. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,713 shares of company stock worth $5,557,098. 2.10% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Semtech by 0.7% during the 4th quarter. BlackRock Inc. now owns 8,308,393 shares of the semiconductor company’s stock valued at $284,147,000 after acquiring an additional 56,028 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in 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 acquiring an additional 336,213 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Semtech by 19.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,346,520 shares of the semiconductor company’s stock valued at $46,052,000 after acquiring an additional 215,609 shares in the last quarter. Renaissance Technologies LLC boosted its position in Semtech by 4.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,294,416 shares of the semiconductor company’s stock valued at $44,269,000 after acquiring an additional 60,200 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in Semtech by 8.1% during the 4th quarter. Macquarie Group Ltd. now owns 1,237,974 shares of the semiconductor company’s stock valued at $42,339,000 after acquiring an additional 92,809 shares in the last quarter. 97.73% of the stock is currently owned by institutional investors and hedge funds.
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Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.
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