Semtech Co. (NASDAQ:SMTC) Receives $52.60 Average PT from Brokerages

Semtech Co. (NASDAQ:SMTC) has received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $52.60.

Several research analysts have recently commented on SMTC shares. Northland Securities lifted their price target on shares of Semtech from $36.50 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. B. Riley boosted their price objective on Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Semtech in a research report on Wednesday, August 28th. Roth Mkm reissued a “buy” rating and set a $50.00 price target on shares of Semtech in a report on Wednesday, August 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price objective (up previously from $40.00) on shares of Semtech in a report on Wednesday, May 29th.

Institutional Investors Weigh In On Semtech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Semtech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after purchasing an additional 131,133 shares in the last quarter. Millennium Management LLC boosted its stake in Semtech by 26.6% during the second quarter. Millennium Management LLC now owns 3,646,449 shares of the semiconductor company’s stock valued at $108,956,000 after buying an additional 765,877 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Semtech by 343.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock worth $74,550,000 after acquiring an additional 1,932,116 shares during the period. Kodai Capital Management LP raised its position in Semtech by 2.7% in the first quarter. Kodai Capital Management LP now owns 2,039,837 shares of the semiconductor company’s stock worth $56,075,000 after acquiring an additional 54,267 shares in the last quarter. Finally, Contour Asset Management LLC lifted its holdings in Semtech by 2.6% in the 4th quarter. Contour Asset Management LLC now owns 1,463,817 shares of the semiconductor company’s stock valued at $32,072,000 after acquiring an additional 36,838 shares during the last quarter.

Semtech Stock Down 3.8 %

Shares of SMTC opened at $40.06 on Tuesday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -2.37 and a beta of 1.54. The business’s 50 day moving average is $35.51 and its two-hundred day moving average is $33.37. Semtech has a 52-week low of $13.13 and a 52-week high of $46.86.

Semtech (NASDAQ:SMTC) last released its earnings results on Tuesday, August 27th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $215.40 million for the quarter, compared to the consensus estimate of $212.30 million. Semtech had a negative return on equity of 154.99% and a negative net margin of 107.21%. Semtech’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. On average, equities analysts expect that Semtech will post -0.07 earnings per share for the current fiscal year.

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.