Several other equities research analysts have also commented on SMTC. B. Riley reduced their price target on shares of Semtech from $60.00 to $55.00 and set a buy rating for the company in a research report on Thursday, August 29th. ValuEngine raised shares of Semtech from a buy rating to a strong-buy rating in a research report on Saturday, September 14th. Wells Fargo & Co reaffirmed an outperformer rating and set a $60.00 price target (down previously from $65.00) on shares of Semtech in a research report on Thursday, August 29th. Stifel Nicolaus reaffirmed a buy rating and set a $50.00 price target (down previously from $55.00) on shares of Semtech in a research report on Thursday, August 29th. Finally, Robert W. Baird set a $45.00 price objective on Semtech and gave the company a buy rating in a research note on Monday, August 26th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $53.10.
NASDAQ SMTC opened at $48.58 on Monday. Semtech has a 52 week low of $39.54 and a 52 week high of $60.55. The firm has a market capitalization of $3.25 billion, a P/E ratio of 36.53, a PEG ratio of 3.77 and a beta of 1.87. The company has a quick ratio of 3.42, a current ratio of 4.10 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $45.70 and a 200-day moving average price of $48.82.
Semtech (NASDAQ:SMTC) last released its quarterly earnings results on Wednesday, August 28th. The semiconductor company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. Semtech had a net margin of 7.34% and a return on equity of 12.91%. The firm had revenue of $137.10 million during the quarter, compared to analyst estimates of $134.85 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was down 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Semtech will post 1.08 EPS for the current year.
In other Semtech news, CFO Emeka Chukwu sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $45.51, for a total value of $1,001,220.00. Following the completion of the transaction, the chief financial officer now directly owns 105,886 shares in the company, valued at approximately $4,818,871.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sylvia Summers sold 6,487 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.31, for a total value of $300,412.97. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $926,200. The disclosure for this sale can be found here. Insiders sold a total of 82,725 shares of company stock valued at $3,973,883 over the last 90 days. 1.96% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of SMTC. BlackRock Inc. boosted its position in shares of Semtech by 0.8% during the 1st quarter. BlackRock Inc. now owns 9,591,218 shares of the semiconductor company’s stock valued at $488,289,000 after acquiring an additional 71,416 shares during the last quarter. Invesco Ltd. boosted its position in shares of Semtech by 19.5% during the 2nd quarter. Invesco Ltd. now owns 3,183,581 shares of the semiconductor company’s stock valued at $152,970,000 after acquiring an additional 520,483 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Semtech by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,662,637 shares of the semiconductor company’s stock valued at $127,940,000 after acquiring an additional 32,265 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Semtech by 80.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,577,500 shares of the semiconductor company’s stock valued at $76,067,000 after acquiring an additional 704,376 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Semtech by 0.4% during the 2nd quarter. Fisher Asset Management LLC now owns 1,522,303 shares of the semiconductor company’s stock valued at $73,147,000 after acquiring an additional 6,389 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.
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, and communications 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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