Semtech (NASDAQ:SMTC) Price Target Raised to $60.00

Semtech (NASDAQ:SMTC) had its price target lifted by Susquehanna from $55.00 to $60.00 in a report issued on Thursday,Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus lifted their price target on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Semtech in a research note on Monday, October 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Semtech in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.10.

Semtech Stock Up 3.8 %

Shares of NASDAQ SMTC opened at $51.03 on Thursday. The stock has a market cap of $3.84 billion, a P/E ratio of -3.77 and a beta of 1.54. The firm’s 50-day simple moving average is $45.37 and its 200 day simple moving average is $38.80. Semtech has a fifty-two week low of $15.14 and a fifty-two week high of $53.22.

Semtech (NASDAQ:SMTC) last released its quarterly 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 net margin of 107.21% and a negative return on equity of 154.99%. Semtech’s revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. On average, sell-side analysts anticipate that Semtech will post -0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Semtech

A number of institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Semtech by 105.2% during the 3rd quarter. Huntington National Bank now owns 589 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 302 shares in the last quarter. NBC Securities Inc. lifted its position in Semtech by 115.8% in the third quarter. NBC Securities Inc. now owns 1,377 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 739 shares during the period. Ridgewood Investments LLC acquired a new stake in Semtech during the second quarter worth $44,000. International Assets Investment Management LLC increased its holdings in Semtech by 4,464.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,689 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 1,652 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Semtech during the 2nd quarter valued at about $60,000.

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.