Semtech (NASDAQ:SMTC) Earns Neutral Rating from Analysts at Piper Jaffray Companies

Analysts at Piper Jaffray Companies initiated coverage on shares of Semtech (NASDAQ:SMTC) in a report released on Monday, December 18th, Marketbeat Ratings reports. The firm set a “neutral” rating and a $35.00 price target on the semiconductor company’s stock. Piper Jaffray Companies’ price objective indicates a potential downside of 6.17% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Needham & Company LLC began coverage on Semtech in a research note on Monday, December 11th. They set a “buy” rating and a $42.00 price target on the stock. BidaskClub lowered Semtech from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Zacks Investment Research lowered Semtech from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Oppenheimer reiterated a “buy” rating and issued a $42.00 target price on shares of Semtech in a research report on Thursday, November 30th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $45.00 target price on shares of Semtech in a research report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $41.90.

Shares of Semtech (SMTC) traded up $0.75 during trading on Monday, reaching $37.30. 625,766 shares of the company’s stock were exchanged, compared to its average volume of 494,708. The company has a market capitalization of $2,430.00, a P/E ratio of 54.85, a PEG ratio of 5.88 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 has a fifty-two week low of $31.50 and a fifty-two week high of $41.95.

Semtech (NASDAQ:SMTC) last announced its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 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 the consensus estimate of $155.69 million. During the same period in the previous year, the company posted $0.37 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. equities research analysts predict that Semtech will post 1.21 EPS for the current year.

In related news, SVP Asaf Silberstein sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $40.72, for a total value of $40,720.00. Following the completion of the transaction, the senior vice president now directly owns 28,900 shares of the company’s stock, valued at approximately $1,176,808. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James T. Lindstrom sold 2,534 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $33.81, for a total value of $85,674.54. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $676,200. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,050 shares of company stock valued at $2,466,608. Corporate insiders own 2.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Semtech by 2.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after acquiring an additional 65 shares during the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of 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 acquiring an additional 100 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of 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 acquiring an additional 186 shares during the last quarter. CS Mckee LP increased its stake in shares of Semtech by 0.3% in the 2nd quarter. CS Mckee LP now owns 58,500 shares of the semiconductor company’s stock worth $2,091,000 after acquiring an additional 200 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Semtech by 5.0% in the 2nd quarter. Amalgamated Bank now owns 8,989 shares of the semiconductor company’s stock worth $321,000 after acquiring an additional 429 shares during the last quarter. 93.99% of the stock is 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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