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

Semtech (NASDAQ:SMTC) had its price objective boosted by Northland Securities from $46.00 to $60.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

Several other research firms also recently commented on SMTC. Susquehanna boosted their target price on shares of Semtech from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 21st. B. Riley increased their price objective on shares of Semtech from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and issued a $56.00 target price on shares of Semtech in a report on Monday, October 7th. Roth Mkm increased their price target on Semtech from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Finally, Summit Insights downgraded Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Semtech presently has an average rating of “Moderate Buy” and an average target price of $67.70.

Semtech Stock Performance

SMTC opened at $64.20 on Tuesday. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of -4.74 and a beta of 1.54. The firm’s fifty day moving average is $46.64 and its 200 day moving average is $39.30. Semtech has a fifty-two week low of $15.63 and a fifty-two week high of $66.64.

Semtech (NASDAQ:SMTC) last announced its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Semtech had a negative return on equity of 154.99% and a negative net margin of 99.08%. The business had revenue of $236.80 million for the quarter, compared to the consensus estimate of $232.89 million. During the same period in the previous year, the business earned $0.02 earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. On average, equities research analysts predict that Semtech will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SMTC. Vanguard Group Inc. boosted its position in shares of Semtech by 1.6% during the first quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock valued at $232,522,000 after buying an additional 131,133 shares during the period. Mutual of America Capital Management LLC increased its holdings in shares of Semtech by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,285 shares of the semiconductor company’s stock valued at $515,000 after acquiring an additional 673 shares during the period. Intech Investment Management LLC raised its position in shares of Semtech by 128.3% in the 3rd quarter. Intech Investment Management LLC now owns 30,521 shares of the semiconductor company’s stock worth $1,394,000 after acquiring an additional 17,150 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Semtech in the 2nd quarter worth $13,239,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Semtech by 135.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 42,560 shares of the semiconductor company’s stock worth $1,943,000 after purchasing an additional 24,517 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.