Semtech Co. (SMTC) Receives $41.90 Average PT from Analysts

Semtech Co. (NASDAQ:SMTC) has received a consensus recommendation of “Buy” from the twelve brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $41.90.

A number of research firms recently commented on SMTC. BidaskClub raised Semtech from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research raised Semtech from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Oppenheimer reissued a “buy” rating and set a $42.00 target price on shares of Semtech in a research note on Thursday, November 30th. Drexel Hamilton reissued a “buy” rating and set a $45.00 target price on shares of Semtech in a research note on Thursday, November 30th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $34.00 target price on shares of Semtech in a research note on Thursday, November 30th.

In other Semtech news, insider Mohan Maheswaran sold 22,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $32.63, for a total transaction of $717,860.00. Following the completion of the transaction, the insider now owns 196,872 shares of the company’s stock, valued at $6,423,933.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James T. Lindstrom sold 2,534 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $33.81, for a total value of $85,674.54. Following the sale, the director now owns 20,000 shares in the company, valued at $676,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,784 shares of company stock valued at $2,512,405. Insiders own 2.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in shares of Semtech by 4.5% during the third quarter. Legal & General Group Plc now owns 131,375 shares of the semiconductor company’s stock worth $4,931,000 after purchasing an additional 5,648 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in Semtech by 4.5% in the third quarter. Stephens Investment Management Group LLC now owns 1,129,920 shares of the semiconductor company’s stock valued at $42,428,000 after acquiring an additional 49,111 shares during the last quarter. State Street Corp boosted its holdings in Semtech by 4.8% in the second quarter. State Street Corp now owns 1,902,288 shares of the semiconductor company’s stock valued at $68,013,000 after acquiring an additional 86,399 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Semtech by 5.8% in the second quarter. California Public Employees Retirement System now owns 138,700 shares of the semiconductor company’s stock valued at $4,959,000 after acquiring an additional 7,600 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Semtech by 49.7% in the second quarter. Public Employees Retirement System of Ohio now owns 167,926 shares of the semiconductor company’s stock valued at $6,003,000 after acquiring an additional 55,714 shares during the last quarter. Institutional investors own 96.47% of the company’s stock.

Semtech (NASDAQ:SMTC) traded up $0.65 during mid-day trading on Tuesday, reaching $33.50. The company had a trading volume of 611,700 shares, compared to its average volume of 583,753. The firm has a market capitalization of $2,220.00, a P/E ratio of 49.34, a PEG ratio of 4.41 and a beta of 1.41. Semtech has a fifty-two week low of $31.30 and a fifty-two week high of $41.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.20 and a current ratio of 3.80.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.04. The business had revenue of $156.60 million during the quarter, compared to the consensus estimate of $155.69 million. Semtech had a return on equity of 12.13% and a net margin of 7.79%. Semtech’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share. analysts anticipate that Semtech will post 1.21 EPS for the current fiscal year.

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Semtech Company Profile

Semtech Corporation is a supplier of analog and mixed-signal semiconductor products. The Company designs, develops and markets a range of products for commercial applications, which are sold into the enterprise computing, communications, consumer and industrial end-markets. Its product lines include Signal Integrity, Protection, Wireless and Sensing, and Power and High-Reliability.

Analyst Recommendations for Semtech (NASDAQ:SMTC)

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