Semtech (NASDAQ:SMTC) Price Target Increased to $39.00 by Analysts at Royal Bank of Canada

Semtech (NASDAQ:SMTC) had its price target upped by equities research analysts at Royal Bank of Canada to $39.00 in a research report issued on Thursday, March 15th. The brokerage currently has a “market perform” rating on the semiconductor company’s stock. Royal Bank of Canada’s price objective indicates a potential downside of 4.65% from the stock’s previous close.

Several other research firms have also recently commented on SMTC. BidaskClub upgraded Semtech from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Oppenheimer reiterated a “buy” rating and issued a $42.00 price objective on shares of Semtech in a research 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 issued a $45.00 price objective on shares of Semtech in a report on Thursday, November 30th. Finally, Summit Insights upgraded Semtech from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $43.44.

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Shares of Semtech stock opened at $40.90 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.65 and a quick ratio of 3.09. The stock has a market cap of $2,725.70, a PE ratio of 31.76, a P/E/G ratio of 7.13 and a beta of 1.18. Semtech has a one year low of $31.30 and a one year high of $41.95.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings results on Wednesday, March 14th. The semiconductor company reported $0.42 earnings per share (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 during the quarter, compared to the consensus estimate of $140.49 million. During the same period in the prior year, the company posted $0.37 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. sell-side analysts predict that Semtech will post 1.15 earnings per share for the current year.

In other news, CFO Emeka Chukwu sold 2,000 shares of the business’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $38.00, for a total value of $76,000.00. Following the sale, the chief financial officer now owns 69,776 shares of the company’s stock, valued at approximately $2,651,488. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Michael Wilson sold 10,000 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $35.78, for a total value of $357,800.00. Following the sale, the executive vice president now directly owns 84,066 shares in the company, valued at $3,007,881.48. The disclosure for this sale can be found here. Insiders have sold a total of 152,713 shares of company stock worth $5,557,098 in the last ninety days. 2.10% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in SMTC. Louisiana State Employees Retirement System grew its stake in Semtech by 6.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the semiconductor company’s stock valued at $975,000 after purchasing an additional 1,700 shares in the last quarter. Rhumbline Advisers grew its stake in Semtech by 1.9% in the third quarter. Rhumbline Advisers now owns 130,593 shares of the semiconductor company’s stock valued at $4,904,000 after purchasing an additional 2,421 shares in the last quarter. American International Group Inc. grew its stake in Semtech by 5.8% in the third quarter. American International Group Inc. now owns 51,537 shares of the semiconductor company’s stock valued at $1,935,000 after purchasing an additional 2,843 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Semtech during the 3rd quarter worth about $133,000. Finally, Profund Advisors LLC boosted its stake in shares of Semtech by 16.6% during the 4th quarter. Profund Advisors LLC now owns 25,535 shares of the semiconductor company’s stock worth $873,000 after acquiring an additional 3,640 shares in the last quarter. 97.73% of the stock is currently owned by institutional investors.

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About Semtech

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.

Analyst Recommendations for Semtech (NASDAQ:SMTC)

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