Semtech Corporation (NASDAQ:SMTC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Semtech Corporation has a consensus rating of "Moderate Buy" from thirteen analysts, with eleven giving buy recommendations and two recommending a hold.
• The average 12-month price target for Semtech shares is $59.58, with target prices ranging from $43.00 to $68.00 set by various analysts.
• In its latest earnings report, Semtech posted an EPS of $0.31, exceeding analysts' expectations of $0.21, alongside a revenue of $251.10 million, marking a 21.8% year-over-year increase.

Shares of Semtech Corporation (NASDAQ:SMTC - Get Free Report) have been given a consensus rating of "Moderate Buy" by the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $59.5833.

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

Semtech Trading Down 0.2%

Shares of NASDAQ:SMTC opened at $51.00 on Tuesday. 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 $48.46 and its two-hundred day moving average is $39.78. 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 has a market cap of $4.42 billion, a PE ratio of -24.76 and a beta of 1.94.

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

Insider Buying and Selling at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were 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 owned 105,996 shares in the company, valued at $4,555,708.08. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Lin sold 999 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $43.84, for a total transaction 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. This trade represents a 5.49% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Institutional Trading of Semtech

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in Semtech during the 4th quarter valued at about $360,000. Marshall Wace LLP increased its holdings in Semtech by 73.1% during the 4th quarter. Marshall Wace LLP now owns 9,277 shares of the semiconductor company's stock valued at $574,000 after acquiring an additional 3,919 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Semtech by 11.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,571 shares of the semiconductor company's stock worth $1,087,000 after buying an additional 1,813 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Semtech by 16.3% during the fourth quarter. MetLife Investment Management LLC now owns 43,517 shares of the semiconductor company's stock worth $2,692,000 after buying an additional 6,107 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Semtech by 328.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,507 shares of the semiconductor company's stock worth $93,000 after buying an additional 1,155 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.

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