Semtech (NASDAQ:SMTC) Price Target Cut to $49.00

Semtech (NASDAQ:SMTC) had its target price reduced by stock analysts at Roth Mkm from $56.00 to $49.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Roth Mkm’s price target suggests a potential upside of 109.67% from the company’s current price.

SMTC has been the subject of several other reports. Susquehanna raised Semtech from a “neutral” rating to a “positive” rating and set a $30.00 price objective for the company in a research note on Thursday. Benchmark lowered shares of Semtech from a “buy” rating to a “hold” rating in a research report on Thursday. B. Riley cut their price objective on shares of Semtech from $52.00 to $45.00 and set a “buy” rating for the company in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Semtech in a report on Thursday. Finally, Piper Sandler cut their price target on Semtech from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Semtech has a consensus rating of “Moderate Buy” and a consensus price target of $35.85.

Semtech Price Performance

SMTC stock traded up $0.50 during mid-day trading on Thursday, reaching $23.37. 3,543,842 shares of the company’s stock were exchanged, compared to its average volume of 1,380,722. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.14 and a quick ratio of 1.46. Semtech has a 12-month low of $17.82 and a 12-month high of $35.18. The stock’s 50 day moving average is $26.48 and its 200 day moving average is $24.91. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -259.67 and a beta of 1.70.

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

Institutional Trading of Semtech

A number of institutional investors and hedge funds have recently bought and sold shares of SMTC. Elequin Securities LLC purchased a new position in Semtech in the 4th quarter valued at approximately $38,000. Harbor Investment Advisory LLC boosted its holdings in Semtech by 66.6% in the first quarter. Harbor Investment Advisory LLC now owns 1,619 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 647 shares during the period. Neo Ivy Capital Management acquired a new position in Semtech during the 2nd quarter worth $41,000. Quarry LP purchased a new stake in Semtech during the 1st quarter worth about $49,000. Finally, Captrust Financial Advisors raised its position in Semtech by 186.5% in the 1st quarter. Captrust Financial Advisors now owns 1,020 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 664 shares in the last quarter.

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.