Semtech (NASDAQ:SMTC) Price Target Raised to $65.00 at Stifel Nicolaus

Semtech (NASDAQ:SMTC) had its price objective boosted by Stifel Nicolaus from $58.00 to $65.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $70.00 price objective (up previously from $50.00) on shares of Semtech in a research report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price target (up previously from $60.00) on shares of Semtech in a research note on Tuesday. B. Riley lifted their price objective on Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Susquehanna upped their target price on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 21st. Finally, Roth Mkm lifted their price target on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.70.

Semtech Stock Performance

Semtech stock opened at $63.11 on Tuesday. The business’s fifty day moving average is $45.83 and its two-hundred day moving average is $38.96. The firm has a market cap of $4.75 billion, a P/E ratio of -4.66 and a beta of 1.54. Semtech has a 52 week low of $15.63 and a 52 week high of $66.64.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. On average, equities research analysts predict that Semtech will post -0.07 earnings per share for the current year.

Institutional Trading of Semtech

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Semtech by 1.6% in the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after acquiring an additional 131,133 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Semtech in the 2nd quarter valued at approximately $13,239,000. Harbor Capital Advisors Inc. increased its stake in Semtech by 135.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock worth $1,943,000 after purchasing an additional 24,517 shares in the last quarter. SG Capital Management LLC acquired a new stake in Semtech during the 1st quarter worth approximately $7,084,000. Finally, Fred Alger Management LLC bought a new position in Semtech in the second quarter valued at approximately $14,307,000.

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.