Semtech (NASDAQ:SMTC - Free Report) had its target price decreased by UBS Group from $60.00 to $55.00 in a research report sent to investors on Monday,Benzinga reports. UBS Group currently has a buy rating on the semiconductor company's stock.
SMTC has been the topic of a number of other research reports. Benchmark cut their price target on shares of Semtech from $82.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Stifel Nicolaus decreased their price objective on Semtech from $54.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Craig Hallum cut their price objective on shares of Semtech from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Piper Sandler reiterated an "overweight" rating and issued a $55.00 price target (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Finally, Morgan Stanley started coverage on shares of Semtech in a research note on Monday, April 7th. They issued an "equal weight" rating and a $30.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $56.92.
Get Our Latest Stock Report on SMTC
Semtech Trading Up 1.0 %
Shares of Semtech stock traded up $0.33 during mid-day trading on Monday, reaching $35.06. 182,756 shares of the stock were exchanged, compared to its average volume of 2,728,125. The firm has a 50-day simple moving average of $32.43 and a 200 day simple moving average of $47.94. Semtech has a fifty-two week low of $24.05 and a fifty-two week high of $79.52. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -2.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.88.
Semtech (NASDAQ:SMTC - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same period last year, the company earned ($0.06) EPS. The company's revenue was up 30.1% compared to the same quarter last year. On average, research analysts predict that Semtech will post -0.02 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Mark Lin sold 10,890 shares of Semtech stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total value of $377,665.20. Following the completion of the sale, the chief financial officer now owns 11,625 shares of the company's stock, valued at approximately $403,155. This trade represents a 48.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.
Hedge Funds Weigh In On Semtech
Hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new stake in Semtech during the fourth quarter worth $31,000. Dunhill Financial LLC bought a new stake in shares of Semtech in the 4th quarter worth $31,000. NBC Securities Inc. raised its holdings in shares of Semtech by 104,700.0% in 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 last quarter. Smartleaf Asset Management LLC lifted its position in shares of Semtech by 190.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 770 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 505 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in Semtech during the fourth quarter worth about $52,000.
About Semtech
(
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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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