Semtech Co. (NASDAQ:SMTC) Given Consensus Rating of “Buy” by Analysts

Shares of Semtech Co. (NASDAQ:SMTCGet Rating) have earned an average recommendation of “Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $78.91.

SMTC has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Semtech from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, March 17th. Susquehanna Bancshares dropped their price objective on shares of Semtech from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Wednesday, June 1st. B. Riley raised their price objective on shares of Semtech from $83.00 to $87.00 in a report on Thursday, March 17th. Susquehanna dropped their price objective on shares of Semtech from $75.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, June 1st. Finally, Needham & Company LLC dropped their price objective on shares of Semtech from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, June 2nd.

Shares of Semtech stock opened at $62.58 on Wednesday. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 1.51 and a beta of 1.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.49 and a quick ratio of 3.52. Semtech has a 1 year low of $56.00 and a 1 year high of $94.92. The company has a 50-day moving average of $62.00 and a 200 day moving average of $71.71.

Semtech (NASDAQ:SMTCGet Rating) last released its quarterly earnings data on Wednesday, June 1st. The semiconductor company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The business had revenue of $202.10 million during the quarter, compared to analyst estimates of $199.98 million. Semtech had a net margin of 18.15% and a return on equity of 20.24%. Semtech’s revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. On average, equities analysts anticipate that Semtech will post 2.76 EPS for the current year.

In other Semtech news, SVP Christopher H. Chang sold 6,950 shares of the stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $70.57, for a total transaction of $490,461.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael W. Rodensky sold 4,000 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $68.79, for a total transaction of $275,160.00. Following the transaction, the senior vice president now owns 10,138 shares in the company, valued at approximately $697,393.02. The disclosure for this sale can be found here. Insiders have sold 46,921 shares of company stock worth $3,202,776 in the last quarter. Company insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sageworth Trust Co of South Dakota purchased a new position in shares of Semtech during the 4th quarter valued at approximately $25,000. First Horizon Advisors Inc. lifted its position in shares of Semtech by 107.2% during the 4th quarter. First Horizon Advisors Inc. now owns 487 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 252 shares in the last quarter. Private Capital Group LLC lifted its position in shares of Semtech by 132.4% during the 1st quarter. Private Capital Group LLC now owns 588 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 335 shares in the last quarter. Covestor Ltd purchased a new position in Semtech in the 4th quarter valued at $56,000. Finally, Meeder Asset Management Inc. purchased a new position in Semtech in the 1st quarter valued at $44,000. 96.33% of the stock is currently owned by institutional investors and hedge funds.

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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