Semtech Co. (NASDAQ:SMTC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Semtech Co. (NASDAQ:SMTC) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $53.10.

Several brokerages have issued reports on SMTC. Roth Mkm reiterated a “buy” rating and issued a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. Susquehanna boosted their price target on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. Finally, B. Riley raised their price objective on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th.

Semtech Stock Down 0.0 %

NASDAQ:SMTC opened at $50.89 on Friday. Semtech has a twelve month low of $15.53 and a twelve month high of $53.22. The company has a fifty day moving average of $45.56 and a 200-day moving average of $38.87. The firm has a market capitalization of $3.83 billion, a P/E ratio of -3.76 and a beta of 1.54.

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

Institutional Trading of Semtech

Several hedge funds have recently made changes to their positions in SMTC. Vanguard Group Inc. grew its position in Semtech by 1.6% during the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after buying an additional 131,133 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Semtech in the second quarter worth $13,239,000. Harbor Capital Advisors Inc. grew its holdings in Semtech by 135.9% in the third 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 during the period. SG Capital Management LLC purchased a new stake in shares of Semtech in the 1st quarter worth approximately $7,084,000. Finally, Fred Alger Management LLC bought a new position in shares of Semtech during the second quarter valued at $14,307,000.

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.