Semtech (NASDAQ:SMTC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
A number of other equities research analysts also recently weighed in on the company. Roth Capital lifted their target price on Semtech from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. B. Riley lifted their target price on Semtech from $46.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. Oppenheimer lifted their target price on Semtech from $42.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, May 24th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $57.00 target price on shares of Semtech in a report on Monday, August 27th. Finally, Royal Bank of Canada lifted their target price on Semtech to $55.00 and gave the stock an “outperform” rating in a report on Monday, August 27th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $57.70.
Shares of SMTC stock opened at $57.70 on Friday. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 41.21, a price-to-earnings-growth ratio of 10.56 and a beta of 1.50. The company has a quick ratio of 3.51, a current ratio of 4.13 and a debt-to-equity ratio of 0.29. Semtech has a fifty-two week low of $31.30 and a fifty-two week high of $60.05.
Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, August 29th. The semiconductor company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The business had revenue of $163.20 million during the quarter, compared to the consensus estimate of $161.21 million. Semtech had a return on equity of 12.66% and a net margin of 8.48%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. research analysts anticipate that Semtech will post 1.56 earnings per share for the current year.
In other Semtech news, VP Simon A. Brown sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $59.01, for a total value of $118,020.00. Following the completion of the sale, the vice president now owns 17,193 shares of the company’s stock, valued at $1,014,558.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Michael Wilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $59.00, for a total value of $885,000.00. The disclosure for this sale can be found here. Insiders sold 107,109 shares of company stock valued at $5,444,598 in the last three months. Insiders own 2.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SMTC. Bank of Montreal Can acquired a new stake in Semtech in the second quarter valued at approximately $124,000. NumerixS Investment Technologies Inc purchased a new position in shares of Semtech during the second quarter valued at approximately $160,000. GSA Capital Partners LLP purchased a new position in shares of Semtech during the first quarter valued at approximately $201,000. Verition Fund Management LLC purchased a new position in shares of Semtech during the first quarter valued at approximately $215,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Semtech during the second quarter valued at approximately $215,000. 96.61% of the stock is owned by hedge funds and other institutional investors.
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.
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