By otakuyassine3@gmail.com 
Shares of Semtech Co. (NASDAQ:SMTC – Get Free Report) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $68.70.
SMTC has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their target price on Semtech from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus lifted their price objective on shares of Semtech from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Benchmark increased their target price on shares of Semtech from $56.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Susquehanna lifted their price target on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. Finally, Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th.
Get Our Latest Report on Semtech
Semtech Trading Down 1.1 %
Semtech stock opened at $62.88 on Thursday. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -4.82 and a beta of 1.65. The firm’s fifty day moving average price is $54.04 and its two-hundred day moving average price is $42.52. Semtech has a 1-year low of $18.16 and a 1-year high of $70.27.
Semtech (NASDAQ:SMTC – Get Free Report) last issued its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $236.80 million during the quarter, compared to analyst estimates of $232.89 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 EPS. On average, research analysts forecast that Semtech will post -0.01 EPS for the current year.
Insider Buying and Selling
In other news, SVP Imran Sherazi sold 2,946 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.30, for a total value of $186,481.80. Following the completion of the sale, the senior vice president now owns 6,317 shares of the company’s stock, valued at approximately $399,866.10. The trade was a 31.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Lin sold 6,114 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $65.74, for a total value of $401,934.36. Following the sale, the chief financial officer now directly owns 3,531 shares of the company’s stock, valued at approximately $232,127.94. This trade represents a 63.39 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.
Institutional Trading of Semtech
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its position in shares of Semtech by 26.6% in the 2nd quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock worth $108,956,000 after purchasing an additional 765,877 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Semtech by 4.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,609,984 shares of the semiconductor company’s stock worth $119,172,000 after buying an additional 114,999 shares during the period. Geode Capital Management LLC boosted its position in Semtech by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,783 shares of the semiconductor company’s stock valued at $73,883,000 after acquiring an additional 119,572 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Semtech during the 2nd quarter worth approximately $43,395,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Semtech by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,880 shares of the semiconductor company’s stock worth $48,303,000 after acquiring an additional 100,410 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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