Semtech Co. (NASDAQ:SMTC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Semtech Co. (NASDAQ:SMTC) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $52.60.

A number of research firms have commented on SMTC. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Benchmark reiterated a “buy” rating and set a $56.00 price objective on shares of Semtech in a research report on Monday, October 7th. Roth Mkm reissued a “buy” rating and issued a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. B. Riley raised their price target on Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus lifted their price objective on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in Semtech by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock valued at $540,000 after purchasing an additional 407 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Semtech by 6.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 461 shares during the period. Creative Planning raised its holdings in shares of Semtech by 3.4% in the 2nd quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after buying an additional 588 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Semtech by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the semiconductor company’s stock worth $971,000 after buying an additional 700 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Semtech by 4.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,482 shares of the semiconductor company’s stock worth $463,000 after buying an additional 710 shares in the last quarter.

Semtech Trading Up 6.2 %

SMTC stock opened at $47.76 on Wednesday. The company has a market capitalization of $3.59 billion, a P/E ratio of -3.52 and a beta of 1.54. Semtech has a twelve month low of $13.13 and a twelve month high of $49.53. The business has a 50 day simple moving average of $42.83 and a 200-day simple moving average of $37.30.

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

Semtech Company Profile

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.