Semtech Co. (NASDAQ:SMTC) Receives $61.55 Average PT from Brokerages

Semtech Co. (NASDAQ:SMTC) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $61.55.

SMTC has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price objective (down previously from $75.00) on shares of Semtech in a research note on Monday, February 10th. Northland Securities boosted their price target on Semtech from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Benchmark lowered their price objective on Semtech from $82.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Stifel Nicolaus cut their target price on Semtech from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Robert W. Baird decreased their price target on Semtech from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th.

Insider Activity at Semtech

In related news, COO Asaf Silberstein sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the sale, the chief operating officer now owns 76,417 shares of the company’s stock, valued at $5,349,190. This trade represents a 2.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Imran Sherazi sold 1,338 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $75.00, for a total value of $100,350.00. Following the completion of the transaction, the senior vice president now directly owns 14 shares of the company’s stock, valued at approximately $1,050. The trade was a 98.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,125 shares of company stock valued at $905,394. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Semtech

A number of institutional investors have recently added to or reduced their stakes in the business. Moody National Bank Trust Division increased its stake in shares of Semtech by 148.6% in the fourth quarter. Moody National Bank Trust Division now owns 20,568 shares of the semiconductor company’s stock valued at $1,272,000 after buying an additional 12,296 shares during the period. Principal Financial Group Inc. increased its position in Semtech by 15.8% during the 4th quarter. Principal Financial Group Inc. now owns 410,613 shares of the semiconductor company’s stock valued at $25,396,000 after purchasing an additional 56,108 shares during the period. Rhumbline Advisers increased its position in Semtech by 6.1% during the 4th quarter. Rhumbline Advisers now owns 205,363 shares of the semiconductor company’s stock valued at $12,702,000 after purchasing an additional 11,878 shares during the period. Convergence Investment Partners LLC acquired a new position in shares of Semtech in the 4th quarter worth approximately $2,680,000. Finally, Stephens Inc. AR bought a new stake in shares of Semtech in the 4th quarter valued at $889,000.

Semtech Trading Down 5.7 %

Semtech stock opened at $28.01 on Friday. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -2.15, a PEG ratio of 2.12 and a beta of 1.85. Semtech has a 12 month low of $25.17 and a 12 month high of $79.52. The stock’s 50 day moving average is $41.67 and its 200-day moving average is $50.68.

Semtech (NASDAQ:SMTC) last issued its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. As a group, equities research analysts predict that Semtech will post -0.02 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.