Semtech Co. (NASDAQ:SMTC) Receives Consensus Rating of "Moderate Buy" from Analysts

Semtech Co. (NASDAQ:SMTC - Get Free Report) has received a consensus rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $58.58.

A number of equities analysts have recently issued reports on the company. UBS Group reduced their price target on Semtech from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Craig Hallum cut their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Benchmark reissued a "buy" rating and set a $68.00 target price on shares of Semtech in a research report on Wednesday, May 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 price target on shares of Semtech in a report on Wednesday, May 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a report on Friday, May 23rd.

Semtech Trading Down 0.1%

Shares of SMTC traded down $0.05 during midday trading on Thursday, reaching $41.89. 1,567,457 shares of the stock were exchanged, compared to its average volume of 2,122,036. Semtech has a 52 week low of $24.05 and a 52 week high of $79.52. The company's 50 day moving average is $33.70 and its two-hundred day moving average is $46.52. The company has a market capitalization of $3.63 billion, a P/E ratio of -3.21, a PEG ratio of 2.12 and a beta of 1.88.

Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $251.00 million for the quarter, compared to analysts' expectations of $249.40 million. The business's quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. On average, sell-side analysts expect that Semtech will post -0.02 EPS for the current year.

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin sold 2,907 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $37.71, for a total value of $109,622.97. Following the completion of the transaction, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. This represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Semtech

Several institutional investors and hedge funds have recently modified their holdings of SMTC. Hollencrest Capital Management acquired a new stake in Semtech in the fourth quarter valued at approximately $31,000. Dunhill Financial LLC acquired a new stake in Semtech in the 4th quarter valued at $31,000. Smartleaf Asset Management LLC increased its holdings in Semtech by 190.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 505 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Semtech during the fourth quarter worth $52,000. Finally, NBC Securities Inc. raised its position in Semtech by 104,700.0% during the first quarter. NBC Securities Inc. now owns 1,048 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 1,047 shares during the period.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.