Stifel Nicolaus Raises Semtech (NASDAQ:SMTC) Price Target to $54.00

Semtech (NASDAQ:SMTC - Get Free Report) had its price objective lifted by stock analysts at Stifel Nicolaus from $45.00 to $54.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Stifel Nicolaus' price target points to a potential upside of 1.48% from the stock's current price.

A number of other research firms have also recently weighed in on SMTC. Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 price objective on shares of Semtech in a report on Wednesday, May 28th. UBS Group cut their price target on shares of Semtech from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, May 5th. Morgan Stanley set a $43.00 price objective on shares of Semtech in a research report on Wednesday, May 28th. Finally, Benchmark restated a "buy" rating and issued a $68.00 price objective on shares of Semtech in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $59.58.

Semtech Stock Up 4.6%

Shares of NASDAQ SMTC traded up $2.34 during midday trading on Friday, reaching $53.21. 470,081 shares of the company's stock traded hands, compared to its average volume of 2,156,242. The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.95. The stock's 50 day simple moving average is $41.67 and its 200-day simple moving average is $43.00. Semtech has a one year low of $24.05 and a one year high of $79.52. The company has a market cap of $4.61 billion, a price-to-earnings ratio of -25.86 and a beta of 1.92.

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

Insider Transactions at Semtech

In other Semtech news, CFO Mark Lin sold 999 shares of the business's 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 sale, the chief financial officer owned 17,211 shares in the company, valued at approximately $754,530.24. The trade was a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Asaf Silberstein sold 2,000 shares of the company's 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 sale, the chief operating officer owned 105,996 shares in the company, valued at approximately $4,555,708.08. This represents a 1.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Semtech

A number of large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in Semtech by 4.2% in the 1st quarter. Principal Financial Group Inc. now owns 427,958 shares of the semiconductor company's stock valued at $14,722,000 after buying an additional 17,345 shares in the last quarter. Boothbay Fund Management LLC grew its holdings in Semtech by 48.9% in the 4th quarter. Boothbay Fund Management LLC now owns 40,663 shares of the semiconductor company's stock valued at $2,515,000 after buying an additional 13,348 shares in the last quarter. KBC Group NV grew its holdings in Semtech by 16.8% in the 1st quarter. KBC Group NV now owns 4,084 shares of the semiconductor company's stock valued at $140,000 after buying an additional 586 shares in the last quarter. Fortress Investment Group LLC acquired a new position in Semtech in the 4th quarter valued at $1,225,000. Finally, BNP Paribas Financial Markets grew its holdings in Semtech by 471.3% in the 4th quarter. BNP Paribas Financial Markets now owns 204,159 shares of the semiconductor company's stock valued at $12,627,000 after buying an additional 168,426 shares in the last quarter.

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.

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