Susquehanna Bancshares Lowers Semtech (NASDAQ:SMTC) Price Target to $72.00

Semtech (NASDAQ:SMTCGet Rating) had its price target cut by investment analysts at Susquehanna Bancshares from $75.00 to $72.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. Susquehanna Bancshares’ price target would indicate a potential upside of 12.34% from the company’s current price.

SMTC has been the subject of several other research reports. B. Riley upped their target price on shares of Semtech from $83.00 to $87.00 in a report on Thursday, March 17th. Susquehanna decreased their price target on shares of Semtech from $75.00 to $72.00 in a research note on Wednesday. Oppenheimer decreased their price target on shares of Semtech from $100.00 to $85.00 in a research note on Thursday, May 26th. Wells Fargo & Company decreased their price target on shares of Semtech from $100.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, March 17th. Finally, Stifel Nicolaus decreased their price target on shares of Semtech from $102.00 to $95.00 in a research note on Thursday, March 17th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $79.64.

Shares of Semtech stock opened at $64.09 on Wednesday. The company has a market capitalization of $4.11 billion, a P/E ratio of 33.38, a P/E/G ratio of 1.55 and a beta of 1.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.02 and a current ratio of 3.91. The company has a fifty day moving average of $62.76 and a 200 day moving average of $72.68. Semtech has a fifty-two week low of $56.00 and a fifty-two week high of $94.92.

Semtech (NASDAQ:SMTCGet Rating) last issued its earnings results on Wednesday, March 16th. The semiconductor company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.06. The company had revenue of $190.60 million during the quarter, compared to the consensus estimate of $189.34 million. Semtech had a net margin of 16.96% and a return on equity of 17.89%. Semtech’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. Analysts forecast that Semtech will post 2.76 EPS for the current year.

In other Semtech news, EVP John Michael Wilson sold 9,000 shares of the company’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $62.28, for a total value of $560,520.00. Following the transaction, the executive vice president now directly owns 16,385 shares in the company, valued at approximately $1,020,457.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mohan Maheswaran sold 25,000 shares of the company’s stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $70.13, for a total transaction of $1,753,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,950 shares of company stock worth $3,079,392 over the last quarter. 1.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Walleye Capital LLC boosted its stake in shares of Semtech by 17.5% during the first quarter. Walleye Capital LLC now owns 12,080 shares of the semiconductor company’s stock valued at $838,000 after purchasing an additional 1,799 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Semtech by 1,712.3% during the first quarter. Neuberger Berman Group LLC now owns 60,203 shares of the semiconductor company’s stock valued at $4,174,000 after acquiring an additional 56,881 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Semtech by 93.8% during the first quarter. BNP Paribas Arbitrage SA now owns 83,787 shares of the semiconductor company’s stock valued at $5,810,000 after acquiring an additional 40,557 shares during the last quarter. Zebra Capital Management LLC raised its holdings in shares of Semtech by 10.5% in the first quarter. Zebra Capital Management LLC now owns 3,456 shares of the semiconductor company’s stock worth $240,000 after buying an additional 327 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Semtech in the first quarter worth $84,000. Hedge funds and other institutional investors own 96.33% of the company’s stock.

About Semtech (Get Rating)

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products 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.

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