BidaskClub Upgrades Semtech (NASDAQ:SMTC) to Sell

BidaskClub upgraded shares of Semtech (NASDAQ:SMTC) from a strong sell rating to a sell rating in a research note published on Thursday, March 15th.

A number of other research analysts have also weighed in on SMTC. Zacks Investment Research raised shares of Semtech from a sell rating to a hold rating in a report on Tuesday, January 30th. Oppenheimer reissued a buy rating and issued a $42.00 target price on shares of Semtech in a report on Thursday, November 30th. Drexel Hamilton reissued a buy rating and issued a $45.00 target price on shares of Semtech in a report on Thursday, November 30th. Royal Bank of Canada reissued a hold rating and issued a $34.00 target price on shares of Semtech in a report on Thursday, November 30th. Finally, BWS Financial set a $49.00 price target on Semtech and gave the stock a buy rating in a research report on Thursday, November 30th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $43.44.

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Shares of SMTC stock traded down $0.08 on Thursday, reaching $40.90. The company’s stock had a trading volume of 1,494,801 shares, compared to its average volume of 906,454. Semtech has a 1 year low of $31.30 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.65. The firm has a market cap of $2,720.71, a PE ratio of 29.21, a price-to-earnings-growth ratio of 7.11 and a beta of 1.18.

Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, March 14th. The semiconductor company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Semtech had a net margin of 6.20% and a return on equity of 13.34%. The firm had revenue of $142.11 million during the quarter, compared to analyst estimates of $140.49 million. During the same period last year, the firm posted $0.37 earnings per share. Semtech’s revenue for the quarter was up .2% compared to the same quarter last year. equities analysts predict that Semtech will post 1.15 EPS for the current year.

In related news, CFO Emeka Chukwu sold 1,900 shares of the firm’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $39.00, for a total value of $74,100.00. Following the completion of the sale, the chief financial officer now directly owns 90,430 shares in the company, valued at $3,526,770. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles B. Ammann sold 2,250 shares of Semtech stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $37.00, for a total value of $83,250.00. Following the sale, the executive vice president now owns 14,905 shares of the company’s stock, valued at $551,485. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 152,713 shares of company stock valued at $5,557,098. 2.10% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Semtech by 0.7% during the fourth quarter. BlackRock Inc. now owns 8,308,393 shares of the semiconductor company’s stock worth $284,147,000 after purchasing an additional 56,028 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Semtech by 15.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,465,395 shares of the semiconductor company’s stock worth $84,317,000 after purchasing an additional 336,213 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Semtech by 19.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,346,520 shares of the semiconductor company’s stock worth $46,052,000 after purchasing an additional 215,609 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Semtech by 4.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,294,416 shares of the semiconductor company’s stock worth $44,269,000 after purchasing an additional 60,200 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Semtech by 8.1% during the fourth quarter. Macquarie Group Ltd. now owns 1,237,974 shares of the semiconductor company’s stock worth $42,339,000 after purchasing an additional 92,809 shares during the last quarter. Institutional investors and hedge funds own 97.73% of the company’s stock.

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Semtech Company Profile

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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