Semtech Corporation (NASDAQ:SMTC) has been assigned an average rating of “Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $43.50.
A number of brokerages have commented on SMTC. B. Riley reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Semtech Corporation in a report on Tuesday, May 16th. Robert W. Baird reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Semtech Corporation in a report on Thursday, June 1st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Semtech Corporation in a report on Thursday, July 6th. Zacks Investment Research lowered Semtech Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Finally, Drexel Hamilton upped their price objective on Semtech Corporation from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, June 1st.
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Shares of Semtech Corporation (SMTC) traded down 2.10% during midday trading on Friday, hitting $39.55. 132,520 shares of the stock traded hands. The firm’s 50 day moving average price is $36.81 and its 200 day moving average price is $34.83. The company has a market capitalization of $2.60 billion, a PE ratio of 44.04 and a beta of 1.42. Semtech Corporation has a 12-month low of $22.81 and a 12-month high of $41.15.
Semtech Corporation (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Semtech Corporation had a return on equity of 12.16% and a net margin of 10.70%. The business had revenue of $149.10 million for the quarter, compared to analysts’ expectations of $145.60 million. During the same quarter in the prior year, the business earned $0.30 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Analysts expect that Semtech Corporation will post $1.85 EPS for the current year.
In other news, insider Charles B. Ammann sold 2,250 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $36.48, for a total transaction of $82,080.00. Following the sale, the insider now directly owns 14,905 shares of the company’s stock, valued at approximately $543,734.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Asaf Silberstein sold 1,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $37.65, for a total value of $37,650.00. Following the sale, the senior vice president now directly owns 33,036 shares in the company, valued at $1,243,805.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,338 shares of company stock worth $3,044,401. 2.10% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Suffolk Capital Management LLC raised its stake in Semtech Corporation by 31.2% in the second quarter. Suffolk Capital Management LLC now owns 50,740 shares of the semiconductor company’s stock valued at $1,814,000 after buying an additional 12,064 shares during the period. Bessemer Group Inc. raised its stake in Semtech Corporation by 311.1% in the second quarter. Bessemer Group Inc. now owns 22,200 shares of the semiconductor company’s stock valued at $794,000 after buying an additional 16,800 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in Semtech Corporation during the second quarter valued at about $7,150,000. Great West Life Assurance Co. Can raised its stake in Semtech Corporation by 3.8% in the second quarter. Great West Life Assurance Co. Can now owns 95,435 shares of the semiconductor company’s stock valued at $3,407,000 after buying an additional 3,500 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in Semtech Corporation by 20.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 18,040 shares of the semiconductor company’s stock valued at $645,000 after buying an additional 3,100 shares during the period. 94.48% of the stock is currently owned by institutional investors.
Semtech Corporation Company Profile
Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.
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