BidaskClub Lowers Semtech (SMTC) to Sell

BidaskClub lowered shares of Semtech (NASDAQ:SMTC) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Other equities research analysts have also issued research reports about the stock. B. Riley reaffirmed a buy rating and set a $48.00 target price on shares of Semtech in a report on Tuesday, August 29th. Zacks Investment Research lowered shares of Semtech from a hold rating to a sell rating in a report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a hold rating and set a $39.00 target price on shares of Semtech in a report on Tuesday, October 3rd. BWS Financial assumed coverage on shares of Semtech in a report on Monday, November 20th. They set a buy rating and a $49.00 target price for the company. Finally, Oppenheimer reaffirmed a buy rating and set a $42.00 target price on shares of Semtech in a report on Thursday, November 30th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $43.29.

Semtech (NASDAQ SMTC) traded up $0.45 during trading on Thursday, hitting $34.00. 587,787 shares of the stock were exchanged, compared to its average volume of 638,185. Semtech has a fifty-two week low of $30.60 and a fifty-two week high of $41.95. The stock has a market capitalization of $2,256.17, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 5.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.80 and a quick ratio of 3.20.

Semtech (NASDAQ:SMTC) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $155.69 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. equities analysts expect that Semtech will post 1.21 EPS for the current fiscal year.

In other Semtech news, VP Marc Pegulu sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $38.21, for a total value of $38,210.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mohan Maheswaran sold 2,500 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $35.64, for a total transaction of $89,100.00. Following the completion of the transaction, the insider now directly owns 220,372 shares in the company, valued at approximately $7,854,058.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,723 shares of company stock worth $2,060,117. Corporate insiders own 2.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SMTC. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Semtech by 2.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 65 shares during the period. Virginia Retirement Systems ET AL increased its stake in Semtech by 1.0% during the second 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. Nisa Investment Advisors LLC increased its stake in Semtech by 2.4% during the second 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. The Manufacturers Life Insurance Company increased its stake in Semtech by 0.4% during the second 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. Finally, CS Mckee LP increased its stake in Semtech by 0.3% during the second quarter. CS Mckee LP now owns 58,500 shares of the semiconductor company’s stock worth $2,091,000 after purchasing an additional 200 shares during the period. 94.23% of the stock is currently owned by 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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