Semtech (SMTC) Now Covered by BWS Financial

BWS Financial started coverage on shares of Semtech (NASDAQ:SMTC) in a research note issued to investors on Monday, November 20th, MarketBeat.com reports. The brokerage set a “buy” rating and a $49.00 price target on the semiconductor company’s stock. BWS Financial’s price target would indicate a potential upside of 50.77% from the company’s previous close.

A number of other equities research analysts have also issued reports on SMTC. BidaskClub lowered shares of Semtech from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. B. Riley reiterated a “buy” rating and issued a $48.00 price objective on shares of Semtech in a research note on Thursday, August 24th. Oppenheimer reiterated a “buy” rating and issued a $42.00 price objective on shares of Semtech in a research note on Sunday, August 27th. Drexel Hamilton reiterated a “buy” rating and issued a $45.00 price objective on shares of Semtech in a research note on Thursday, August 31st. Finally, Zacks Investment Research downgraded shares of Semtech from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.29.

Shares of Semtech (NASDAQ SMTC) traded down $1.00 during trading hours on Monday, hitting $32.50. 622,632 shares of the stock were exchanged, compared to its average volume of 483,419. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.32. Semtech has a 12 month low of $30.60 and a 12 month high of $41.95. The firm has a market cap of $2,242.92, a price-to-earnings ratio of 29.14, a P/E/G ratio of 5.59 and a beta of 1.41.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. Semtech had a net margin of 7.79% and a return on equity of 12.13%. The business had revenue of $156.60 million for the quarter, compared to the consensus estimate of $155.69 million. During the same period in the previous year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. equities analysts forecast that Semtech will post 1.21 earnings per share for the current fiscal year.

In other Semtech news, EVP Gary Beauchamp sold 21,666 shares of the stock in a transaction on Friday, October 13th. The shares were sold at an average price of $39.84, for a total value of $863,173.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Asaf Silberstein sold 2,500 shares of the stock in a transaction on Friday, October 6th. The shares were sold at an average price of $37.78, for a total transaction of $94,450.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,723 shares of company stock valued at $2,060,117. 2.20% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Stephens Investment Management Group LLC increased its position in shares of Semtech by 4.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,129,920 shares of the semiconductor company’s stock worth $42,428,000 after purchasing an additional 49,111 shares in the last quarter. State Street Corp increased its position in shares of Semtech by 4.8% during the 2nd quarter. State Street Corp now owns 1,902,288 shares of the semiconductor company’s stock worth $68,013,000 after purchasing an additional 86,399 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Semtech by 5.8% during the 2nd quarter. California Public Employees Retirement System now owns 138,700 shares of the semiconductor company’s stock worth $4,959,000 after purchasing an additional 7,600 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Semtech by 49.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 167,926 shares of the semiconductor company’s stock worth $6,003,000 after purchasing an additional 55,714 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Semtech by 10.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 138,606 shares of the semiconductor company’s stock worth $4,955,000 after purchasing an additional 13,182 shares in the last quarter. Institutional investors own 94.23% of the company’s stock.

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About Semtech

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.

Analyst Recommendations for Semtech (NASDAQ:SMTC)

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