Semtech Corporation (NASDAQ:SMTC) Receives $59.58 Average PT from Analysts

Key Points

• Semtech Corporation has received an average recommendation of "Moderate Buy" from 13 brokerages, with 11 analysts issuing buy ratings and 2 holding ratings.
• The average 12-month price target for Semtech stock is $59.58, with notable price targets including $68.00 from Benchmark and $54.00 from Needham & Company.
• COO Asaf Silberstein and CFO Mark Lin recently sold shares of Semtech, indicating a 1.85% and 5.49% decrease in their ownership, respectively.

Semtech Corporation (NASDAQ:SMTC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the thirteen research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $59.58.

A number of research analysts have issued reports on the company. Morgan Stanley set a $43.00 price objective on Semtech in a research note on Wednesday, May 28th. Needham & Company LLC reissued a "buy" rating and issued a $54.00 target price on shares of Semtech in a report on Wednesday, May 28th. Benchmark reissued a "buy" rating and issued a $68.00 target price on shares of Semtech in a report on Wednesday, May 28th. UBS Group reduced their target price on Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Stifel Nicolaus lifted their target price on Semtech from $45.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 18th.

Semtech Stock Down 1.9%

NASDAQ:SMTC traded down $0.96 during trading hours on Friday, reaching $50.14. 1,713,001 shares of the company traded hands, compared to its average volume of 1,876,649. The business's 50-day moving average price is $44.72 and its two-hundred day moving average price is $42.05. The stock has a market capitalization of $4.34 billion, a P/E ratio of -24.34 and a beta of 1.94. Semtech has a 1 year low of $24.05 and a 1 year high of $79.52. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95.

Semtech (NASDAQ:SMTC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. The business had revenue of $251.10 million during the quarter, compared to analysts' expectations of $249.79 million. Semtech had a positive return on equity of 19.66% and a negative net margin of 12.52%. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share. Analysts predict that Semtech will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Semtech

In related news, CFO Mark Lin sold 999 shares of Semtech stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $43.84, for a total value of $43,796.16. Following the completion of the sale, the chief financial officer owned 17,211 shares of the company's stock, valued at $754,530.24. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $42.98, for a total value of $85,960.00. Following the completion of the sale, the chief operating officer directly owned 105,996 shares of the company's stock, valued at $4,555,708.08. The trade was a 1.85% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Semtech

Several institutional investors and hedge funds have recently bought and sold shares of SMTC. Bessemer Group Inc. lifted its position in Semtech by 78.4% during the second quarter. Bessemer Group Inc. now owns 653 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 287 shares in the last quarter. Dunhill Financial LLC purchased a new position in Semtech during the fourth quarter valued at $31,000. Ameritas Advisory Services LLC purchased a new position in Semtech during the second quarter valued at $33,000. NBC Securities Inc. lifted 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 valued at $36,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Semtech by 33.4% during the first quarter. Smartleaf Asset Management LLC now owns 1,027 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 257 shares in the last quarter.

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.