BidaskClub upgraded shares of Semtech (NASDAQ:SMTC) from a sell rating to a hold rating in a research report report published on Monday morning, BidAskClub reports.
Other equities analysts have also issued reports about the company. Wells Fargo & Co restated an outperformer rating and set a $60.00 target price (down from $65.00) on shares of Semtech in a research report on Thursday, August 29th. Cowen cut their price objective on Semtech from $56.00 to $54.00 and set an outperform rating on the stock in a report on Monday, September 9th. Oppenheimer cut their price objective on Semtech from $60.00 to $52.00 and set an outperform rating on the stock in a report on Thursday, May 30th. Stifel Nicolaus reiterated a buy rating and set a $50.00 price objective (down previously from $55.00) on shares of Semtech in a report on Thursday, August 29th. Finally, ValuEngine upgraded Semtech from a buy rating to a strong-buy rating in a report on Saturday, September 14th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $53.10.
Semtech stock opened at $47.46 on Monday. The firm has a market capitalization of $3.16 billion, a P/E ratio of 35.68, a PEG ratio of 3.76 and a beta of 1.87. Semtech has a 1 year low of $39.54 and a 1 year high of $60.25. The business has a 50-day moving average of $45.58 and a 200-day moving average of $48.78. The company has a current ratio of 4.10, a quick ratio of 3.42 and a debt-to-equity ratio of 0.27.
Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, August 28th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $137.10 million during the quarter, compared to analyst estimates of $134.85 million. Semtech had a return on equity of 12.91% and a net margin of 7.34%. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. Research analysts anticipate that Semtech will post 1.08 EPS for the current fiscal year.
In other news, VP Alisair Fulton sold 1,500 shares of Semtech stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $49.38, for a total transaction of $74,070.00. Following the transaction, the vice president now owns 382 shares in the company, valued at approximately $18,863.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Emeka Chukwu sold 1,100 shares of Semtech stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $50.56, for a total value of $55,616.00. Following the transaction, the chief financial officer now owns 104,786 shares in the company, valued at approximately $5,297,980.16. The disclosure for this sale can be found here. Insiders have sold a total of 82,725 shares of company stock worth $3,973,883 in the last quarter. 1.96% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cornerstone Advisors Inc. lifted its stake in Semtech by 3,725.0% in the 1st quarter. Cornerstone Advisors Inc. now owns 612 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 596 shares in the last quarter. Point72 Hong Kong Ltd lifted its stake in Semtech by 28.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,450 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 318 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Semtech in the 2nd quarter valued at approximately $86,000. Marshall Wace LLP bought a new stake in Semtech in the 2nd quarter valued at approximately $203,000. Finally, Wesbanco Bank Inc. bought a new stake in Semtech in the 1st quarter valued at approximately $219,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.
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, and communications applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.
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