Semtech (NASDAQ:SMTC) Given New $30.00 Price Target at Stifel Nicolaus

Semtech (NASDAQ:SMTC) had its price target lowered by Stifel Nicolaus from $32.00 to $30.00 in a research note issued on Thursday, FlyOnTheWall reports. Stifel Nicolaus’ target price suggests a potential upside of 31.18% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Needham & Company LLC upgraded Semtech from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, September 6th. TheStreet upgraded Semtech from a “d+” rating to a “c-” rating in a research note on Monday, July 31st. Roth Mkm restated a “buy” rating and issued a $56.00 price target on shares of Semtech in a research note on Wednesday, September 6th. Summit Insights upgraded Semtech from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Benchmark downgraded Semtech from a “buy” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, Semtech has an average rating of “Moderate Buy” and an average target price of $38.75.

Semtech Trading Up 0.7 %

Shares of NASDAQ:SMTC opened at $22.87 on Thursday. The stock has a 50 day moving average of $26.48 and a 200 day moving average of $24.91. The company has a market cap of $1.46 billion, a PE ratio of -254.11 and a beta of 1.70. The company has a current ratio of 2.14, a quick ratio of 1.46 and a debt-to-equity ratio of 1.82. Semtech has a 12-month low of $17.82 and a 12-month high of $35.18.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Wednesday, September 13th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The company had revenue of $238.37 million during the quarter, compared to the consensus estimate of $237.37 million. Semtech had a positive return on equity of 8.83% and a negative net margin of 0.77%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. As a group, equities research analysts expect that Semtech will post -0.06 EPS for the current year.

Institutional Trading of Semtech

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP raised its holdings in Semtech by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 1,200,300 shares of the semiconductor company’s stock valued at $34,437,000 after buying an additional 6,300 shares during the period. Natixis purchased a new stake in Semtech during the 4th quarter valued at $9,759,000. Palisade Capital Management LP increased its stake in Semtech by 5.2% in the first quarter. Palisade Capital Management LP now owns 632,708 shares of the semiconductor company’s stock worth $15,274,000 after purchasing an additional 31,210 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Semtech by 6.3% in the fourth quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 266,463 shares of the semiconductor company’s stock worth $7,644,000 after purchasing an additional 15,714 shares during the period. Finally, Inspire Investing LLC increased its stake in Semtech by 36.1% in the first quarter. Inspire Investing LLC now owns 11,211 shares of the semiconductor company’s stock worth $271,000 after purchasing an additional 2,972 shares during the period.

About Semtech

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.