Oppenheimer Reaffirms Buy Rating for Semtech (SMTC)

Oppenheimer reiterated their buy rating on shares of Semtech (NASDAQ:SMTC) in a research report sent to investors on Sunday, November 19th. They currently have a $42.00 target price on the semiconductor company’s stock.

SMTC has been the subject of a number of other reports. B. Riley reiterated a buy rating and issued a $48.00 price objective on shares of Semtech in a report on Thursday, October 5th. Drexel Hamilton reiterated a buy rating and issued a $45.00 price objective on shares of Semtech in a report on Thursday, August 31st. BWS Financial assumed coverage on Semtech in a research note on Monday, November 20th. They issued a buy rating and a $49.00 target price for the company. Zacks Investment Research raised Semtech from a sell rating to a hold rating in a research note on Tuesday, October 31st. Finally, Royal Bank Of Canada reissued a hold rating and issued a $39.00 target price on shares of Semtech in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Semtech presently has an average rating of Buy and a consensus target price of $43.29.

Shares of Semtech (NASDAQ:SMTC) traded down $1.00 on Friday, hitting $32.50. The company’s stock had a trading volume of 622,632 shares, compared to its average volume of 483,419. The company has a market capitalization of $2,242.92, a price-to-earnings ratio of 29.14, a PEG ratio of 5.59 and a beta of 1.41. Semtech has a 52-week low of $30.60 and a 52-week high of $41.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.20 and a current ratio of 3.80.

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

In other Semtech news, VP Marc Pegulu sold 1,000 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $38.21, for a total transaction of $38,210.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mohan Maheswaran sold 2,500 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $35.64, for a total value of $89,100.00. Following the sale, the insider now owns 220,372 shares in the company, valued at $7,854,058.08. The disclosure for this sale can be found here. Insiders sold a total of 52,723 shares of company stock worth $2,060,117 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Semtech by 2.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 65 shares during the period. Virginia Retirement Systems ET AL raised its holdings in Semtech by 1.0% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the semiconductor company’s stock worth $350,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System raised its holdings in Semtech by 0.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the semiconductor company’s stock worth $958,000 after purchasing an additional 100 shares during the period. Nisa Investment Advisors LLC raised its holdings in Semtech by 2.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,370 shares of the semiconductor company’s stock worth $228,000 after purchasing an additional 150 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Semtech by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,844 shares of the semiconductor company’s stock worth $1,781,000 after purchasing an additional 186 shares during the period. 94.23% of the stock is currently owned by hedge funds and other institutional investors.

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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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