Semtech (NASDAQ:SMTC) Stock Price Expected to Rise, Roth Mkm Analyst Says

Semtech (NASDAQ:SMTC) had its price target hoisted by analysts at Roth Mkm from $50.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Roth Mkm’s price objective suggests a potential downside of 4.93% from the stock’s current price.

A number of other research firms also recently weighed in on SMTC. Stifel Nicolaus upped their target price on shares of Semtech from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Susquehanna raised their target price on shares of Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Benchmark reiterated a “buy” rating and set a $56.00 target price on shares of Semtech in a report on Monday, October 7th. Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.70.

Semtech Price Performance

Shares of SMTC opened at $63.11 on Monday. Semtech has a one year low of $15.63 and a one year high of $66.64. The company has a 50-day simple moving average of $45.83 and a two-hundred day simple moving average of $38.96. The firm has a market capitalization of $4.75 billion, a PE ratio of -4.66 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last released its earnings results on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. Analysts expect that Semtech will post -0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Semtech

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank lifted its holdings in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 302 shares during the period. NBC Securities Inc. boosted its position 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 purchasing an additional 739 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Semtech during the 2nd quarter valued at about $44,000. International Assets Investment Management LLC increased its position in shares of Semtech by 4,464.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Semtech in the 2nd quarter worth approximately $60,000.

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.