Semtech Corporation (NASDAQ:SMTC) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Semtech Corporation (NASDAQ:SMTC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $58.58.

Several equities research analysts have recently issued reports on SMTC shares. Stifel Nicolaus lifted their price target on Semtech from $35.00 to $42.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Craig Hallum reduced their price target on Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $54.00 price target on shares of Semtech in a report on Wednesday, May 28th. Benchmark reiterated a "buy" rating and set a $68.00 price target on shares of Semtech in a report on Wednesday, May 28th. Finally, Morgan Stanley set a $43.00 price target on Semtech in a report on Wednesday, May 28th.

Semtech Stock Up 0.1%

NASDAQ SMTC traded up $0.06 during trading on Monday, reaching $48.56. 2,921,889 shares of the company's stock were exchanged, compared to its average volume of 2,168,127. Semtech has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The firm has a market capitalization of $4.21 billion, a PE ratio of -23.57 and a beta of 1.92. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.95. The company's fifty day simple moving average is $40.26 and its 200-day simple moving average is $43.53.

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

Insider Buying and Selling

In other Semtech news, COO Asaf Silberstein sold 2,000 shares of Semtech stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Lin sold 999 shares of Semtech stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 17,211 shares in the company, valued at approximately $754,530.24. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SMTC. Hollencrest Capital Management bought a new stake in shares of Semtech during the fourth quarter valued at approximately $31,000. Dunhill Financial LLC bought a new stake in shares of Semtech during the fourth quarter valued at approximately $31,000. NBC Securities Inc. increased its position in shares of 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 during the period. Smartleaf Asset Management LLC increased its position in shares of 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 during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Semtech during the fourth quarter valued at approximately $52,000.

About Semtech

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.