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

Semtech (NASDAQ:SMTC) had its price objective raised by Northland Securities from $46.00 to $60.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

A number of other equities research analysts have also commented on SMTC. Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Susquehanna raised their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Roth Mkm upped their price objective on shares of Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Benchmark reissued a “buy” rating and set a $56.00 target price on shares of Semtech in a research note on Monday, October 7th. Finally, B. Riley upped their price target on shares of Semtech from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.70.

Semtech Price Performance

Semtech stock opened at $64.04 on Tuesday. Semtech has a fifty-two week low of $15.63 and a fifty-two week high of $66.64. The firm’s 50 day simple moving average is $47.00 and its 200-day simple moving average is $39.47. The company has a market cap of $4.82 billion, a P/E ratio of -4.83 and a beta of 1.54.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $236.80 million for the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative net margin of 99.08% and a negative return on equity of 154.99%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 EPS. On average, analysts expect that Semtech will post -0.07 EPS for the current fiscal year.

Institutional Trading of Semtech

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank lifted its stake in shares of 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 buying an additional 302 shares during the last quarter. Arizona State Retirement System lifted its position in Semtech by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 18,074 shares of the semiconductor company’s stock worth $540,000 after acquiring an additional 407 shares during the last quarter. Hanseatic Management Services Inc. boosted its holdings in Semtech by 3.2% during the third quarter. Hanseatic Management Services Inc. now owns 14,406 shares of the semiconductor company’s stock valued at $658,000 after acquiring an additional 447 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Semtech by 6.9% in the second quarter. Nisa Investment Advisors LLC now owns 7,159 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 461 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Semtech by 3.4% in the second quarter. Creative Planning now owns 18,018 shares of the semiconductor company’s stock worth $538,000 after purchasing an additional 588 shares during the period.

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.