Semtech (SMTC) Rating Reiterated by Needham & Company LLC

Semtech (NASDAQ:SMTC)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued to investors on Thursday. They presently have a $42.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 10.96% from the stock’s current price.

SMTC has been the subject of several other research reports. BWS Financial set a $49.00 price objective on shares of Semtech and gave the stock a “buy” rating in a research report on Thursday, November 30th. BidaskClub downgraded shares of Semtech from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Zacks Investment Research downgraded shares of Semtech from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. B. Riley reissued a “buy” rating and set a $46.00 price objective (down previously from $48.00) on shares of Semtech in a research report on Monday, November 27th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $34.00 price objective on shares of Semtech in a research report on Thursday, November 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Semtech currently has an average rating of “Buy” and an average price target of $41.90.

Shares of Semtech (NASDAQ SMTC) traded down $0.15 during trading hours on Thursday, reaching $37.85. 494,075 shares of the company’s stock traded hands, compared to its average volume of 447,789. Semtech has a 1 year low of $31.50 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.80 and a quick ratio of 3.20. The company has a market capitalization of $2,521.62, a P/E ratio of 54.86, a PEG ratio of 6.28 and a beta of 1.41.

Semtech (NASDAQ:SMTC) last issued its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $156.60 million during the quarter, compared to the consensus estimate of $155.69 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The business’s quarterly revenue 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 year.

In related news, EVP Charles B. Ammann sold 2,250 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $40.67, for a total transaction of $91,507.50. Following the completion of the transaction, the executive vice president now owns 14,905 shares in the company, valued at $606,186.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $40,720.00. Following the transaction, the senior vice president now owns 28,900 shares of the company’s stock, valued at approximately $1,176,808. The disclosure for this sale can be found here. Insiders have sold 47,534 shares of company stock valued at $1,715,752 in the last three months. 2.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Semtech by 15.5% during the second quarter. FMR LLC now owns 8,376,134 shares of the semiconductor company’s stock worth $299,446,000 after purchasing an additional 1,124,083 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Semtech by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,080,648 shares of the semiconductor company’s stock worth $217,384,000 after purchasing an additional 75,993 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Semtech by 15.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,465,395 shares of the semiconductor company’s stock worth $84,317,000 after purchasing an additional 336,213 shares during the last quarter. State Street Corp boosted its holdings in Semtech by 4.8% during the second 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 during the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in Semtech by 29.7% during the second quarter. Macquarie Group Ltd. now owns 1,352,123 shares of the semiconductor company’s stock worth $48,338,000 after purchasing an additional 309,928 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

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Semtech 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.

Analyst Recommendations for Semtech (NASDAQ:SMTC)

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