Roth Mkm Issues Positive Forecast for Semtech (NASDAQ:SMTC) Stock Price

Semtech (NASDAQ:SMTC) had its target price increased by Roth Mkm from $50.00 to $60.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms also recently weighed in on SMTC. Benchmark reissued a “buy” rating and set a $56.00 target price on shares of Semtech in a research report on Monday, October 7th. Stifel Nicolaus increased their price objective on Semtech from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Susquehanna boosted their target price on Semtech from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 21st. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Semtech in a research note on Wednesday, August 28th. Finally, Summit Insights lowered Semtech from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.70.

Semtech Trading Up 1.7 %

Shares of SMTC opened at $64.20 on Monday. The stock has a 50 day moving average of $46.64 and a 200 day moving average of $39.30. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of -4.74 and a beta of 1.54. Semtech has a 12 month low of $15.63 and a 12 month high of $66.64.

Semtech (NASDAQ:SMTC) last announced its earnings results on Monday, November 25th. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS. As a group, equities research analysts predict that Semtech will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Semtech

Several hedge funds have recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN grew its position in shares of Semtech by 343.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,494,985 shares of the semiconductor company’s stock valued at $74,550,000 after purchasing an additional 1,932,116 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in Semtech during the second quarter worth about $43,395,000. Millennium Management LLC increased its stake in 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 acquiring an additional 765,877 shares during the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Semtech in the 3rd quarter valued at about $32,126,000. Finally, Clearline Capital LP boosted its position in shares of Semtech by 143.1% during the 2nd quarter. Clearline Capital LP now owns 899,021 shares of the semiconductor company’s stock valued at $26,863,000 after acquiring an additional 529,194 shares during the last quarter.

Semtech Company Profile

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.