Semtech Co. (SMTC) Given Average Recommendation of “Buy” by Brokerages
Semtech Co. (NASDAQ:SMTC) has been assigned an average rating of “Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $42.22.
Several equities analysts recently commented on SMTC shares. Royal Bank of Canada reissued a “hold” rating and issued a $34.00 target price on shares of Semtech in a report on Thursday, November 30th. Oppenheimer reissued a “buy” rating and issued a $42.00 target price on shares of Semtech in a report on Sunday, August 27th. B. Riley reissued a “buy” rating and issued a $48.00 target price on shares of Semtech in a report on Tuesday, August 29th. Drexel Hamilton reissued a “buy” rating and issued a $45.00 target price on shares of Semtech in a report on Thursday, August 31st. Finally, BidaskClub lowered Semtech from a “hold” rating to a “sell” rating in a report on Thursday, December 7th.
In other Semtech news, SVP Asaf Silberstein sold 1,957 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $39.58, for a total transaction of $77,458.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mohan Maheswaran sold 2,500 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $34.44, for a total value of $86,100.00. Following the transaction, the chief executive officer now directly owns 212,872 shares in the company, valued at approximately $7,331,311.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,257 shares of company stock worth $2,315,592. Corporate insiders own 2.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Strs Ohio grew its holdings in shares of Semtech by 22.2% during the second quarter. Strs Ohio now owns 3,300 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Semtech by 2.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,364 shares of the semiconductor company’s stock worth $120,000 after buying an additional 65 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Semtech during the third quarter worth about $133,000. Victory Capital Management Inc. grew its holdings in shares of Semtech by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,773 shares of the semiconductor company’s stock worth $171,000 after buying an additional 717 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in shares of Semtech by 65.5% during the second quarter. Riverhead Capital Management LLC now owns 5,130 shares of the semiconductor company’s stock worth $183,000 after buying an additional 2,030 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.
Semtech (NASDAQ SMTC) traded up $0.35 during trading hours on Monday, reaching $34.00. The company had a trading volume of 339,700 shares, compared to its average volume of 489,305. The stock has a market capitalization of $2,260.00, a price-to-earnings ratio of 50.00, a PEG ratio of 5.56 and a beta of 1.41. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.32. Semtech has a 52-week low of $31.00 and a 52-week high of $41.95.
Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, November 29th. The semiconductor company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.50 by $0.04. The firm had revenue of $156.60 million for the quarter, compared to analyst estimates 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 prior year, the company posted $0.37 earnings per share. equities research 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.
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