Benchmark Increases Semtech (NASDAQ:SMTC) Price Target to $82.00

Semtech (NASDAQ:SMTC) had its price target upped by stock analysts at Benchmark from $56.00 to $82.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s price target points to a potential upside of 25.84% from the stock’s previous close.

SMTC has been the topic of several other research reports. B. Riley boosted their target price on Semtech from $61.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday. Summit Insights downgraded shares of Semtech from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Craig Hallum lifted their price target on shares of Semtech from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. Roth Mkm increased their price objective on shares of Semtech from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Northland Securities boosted their target price on Semtech from $46.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.70.

Semtech Stock Up 21.9 %

Semtech stock traded up $11.72 during midday trading on Tuesday, reaching $65.16. 4,054,930 shares of the stock traded hands, compared to its average volume of 1,817,269. Semtech has a 12 month low of $15.63 and a 12 month high of $66.64. The stock’s fifty day moving average is $45.83 and its 200-day moving average is $38.96. The stock has a market cap of $4.90 billion, a P/E ratio of -4.75 and a beta of 1.54.

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 for the quarter, compared to analysts’ expectations of $232.89 million. Semtech had a negative net margin of 107.21% and a negative return on equity of 154.99%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 EPS. On average, equities analysts predict that Semtech will post -0.07 EPS for the current fiscal year.

Institutional Trading of Semtech

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Semtech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 8,458,425 shares of the semiconductor company’s stock worth $232,522,000 after acquiring an additional 131,133 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Semtech by 5.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 77,580 shares of the semiconductor company’s stock worth $2,134,000 after purchasing an additional 4,347 shares in the last quarter. SG Capital Management LLC purchased a new stake in shares of Semtech during the first quarter valued at about $7,084,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Semtech by 23.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,043 shares of the semiconductor company’s stock valued at $539,000 after buying an additional 3,370 shares in the last quarter. Finally, CWM LLC grew its position in shares of Semtech by 134.6% in the 2nd quarter. CWM LLC now owns 2,412 shares of the semiconductor company’s stock worth $72,000 after buying an additional 1,384 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.