Susquehanna Issues Positive Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its price target boosted by Susquehanna from $55.00 to $60.00 in a research report released on Thursday,Benzinga reports. The firm currently has a positive rating on the semiconductor company’s stock.

A number of other research analysts have also recently issued reports on the stock. Summit Insights cut shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. B. Riley upped their price objective on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and issued a $56.00 price target on shares of Semtech in a report on Monday, October 7th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $50.00 price objective on shares of Semtech in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.10.

Semtech Stock Down 0.0 %

SMTC stock opened at $50.89 on Thursday. Semtech has a 12-month low of $15.53 and a 12-month high of $53.22. The company’s fifty day simple moving average is $45.56 and its 200 day simple moving average is $38.86. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -3.76 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $215.40 million for the quarter, compared to analyst estimates of $212.30 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. Semtech’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. Research analysts expect that Semtech will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank grew its holdings in Semtech by 105.2% in the third quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares during the period. NBC Securities Inc. boosted its holdings in Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 739 shares in the last quarter. Ridgewood Investments LLC bought a new stake in Semtech in the second quarter worth $44,000. International Assets Investment Management LLC grew its stake in shares of Semtech by 4,464.9% in the third quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 1,652 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Semtech during the 2nd quarter valued at about $60,000.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial 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.