Semtech (NASDAQ:SMTC) was upgraded by research analysts at Summit Insights from a “hold” rating to a “buy” rating in a report issued on Thursday, March 15th.
A number of other equities analysts also recently weighed in on SMTC. BidaskClub upgraded shares of Semtech from a “strong sell” rating to a “sell” rating in a report on Thursday, March 15th. Zacks Investment Research upgraded shares of Semtech from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Needham & Company LLC restated a “buy” rating and set a $42.00 target price on shares of Semtech in a report on Thursday, January 18th. Roth Capital assumed coverage on shares of Semtech in a report on Friday, January 5th. They set a “buy” rating and a $39.00 target price on the stock. Finally, Piper Jaffray assumed coverage on shares of Semtech in a report on Monday, December 18th. They set a “neutral” rating and a $35.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Semtech presently has an average rating of “Buy” and an average target price of $43.44.
Shares of SMTC stock traded down $0.08 during trading on Thursday, reaching $40.90. The company’s stock had a trading volume of 1,494,801 shares, compared to its average volume of 683,796. The company has a quick ratio of 3.09, a current ratio of 3.65 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2,660.84, a PE ratio of 29.21, a P/E/G ratio of 6.96 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 data 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 business had revenue of $142.11 million for the quarter, compared to analyst estimates of $140.49 million. Semtech had a net margin of 6.20% and a return on equity of 13.34%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. equities analysts predict that Semtech will post 1.15 earnings per share for the current fiscal year.
In other Semtech news, EVP John Michael Wilson sold 10,000 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $35.78, for a total value of $357,800.00. Following the transaction, the executive vice president now directly owns 84,066 shares in the company, valued at $3,007,881.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Simon A. Brown sold 2,000 shares of the company’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $39.36, for a total transaction of $78,720.00. Following the completion of the transaction, the vice president now owns 16,142 shares in the company, valued at $635,349.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,713 shares of company stock worth $5,557,098. Corporate insiders own 2.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in shares of Semtech by 4.5% in the third quarter. Legal & General Group Plc now owns 131,375 shares of the semiconductor company’s stock valued at $4,931,000 after acquiring an additional 5,648 shares in the last quarter. Suntrust Banks Inc. acquired a new position in shares of Semtech in the fourth quarter valued at about $237,000. Wells Fargo & Company MN grew its stake in shares of Semtech by 16.9% in the fourth quarter. Wells Fargo & Company MN now owns 582,742 shares of the semiconductor company’s stock valued at $19,930,000 after acquiring an additional 84,044 shares in the last quarter. Clearbridge LLC grew its stake in shares of Semtech by 10.5% in the fourth quarter. Clearbridge LLC now owns 339,212 shares of the semiconductor company’s stock valued at $11,601,000 after acquiring an additional 32,240 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in shares of Semtech by 4.5% in the third quarter. Stephens Investment Management Group LLC now owns 1,129,920 shares of the semiconductor company’s stock valued at $42,428,000 after acquiring an additional 49,111 shares in the last quarter. Institutional investors and hedge funds own 97.73% of the company’s stock.
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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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