Semtech (NASDAQ:SMTC) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.

A number of other research firms also recently commented on SMTC. Robert W. Baird set a $45.00 target price on shares of Semtech and gave the company a “buy” rating in a research report on Monday, August 26th. Cowen cut their price objective on shares of Semtech from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. BWS Financial downgraded shares of Semtech from a “buy” rating to a “hold” rating and cut their price objective for the stock from $70.00 to $50.00 in a research report on Friday. Stifel Nicolaus lifted their price objective on shares of Semtech from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, ValuEngine downgraded shares of Semtech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 5th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $49.17.

NASDAQ SMTC traded up $0.08 during trading on Friday, reaching $50.78. 340,610 shares of the company’s stock traded hands, compared to its average volume of 562,181. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.10 and a quick ratio of 3.42. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 38.18, a price-to-earnings-growth ratio of 4.13 and a beta of 1.93. The company’s 50 day simple moving average is $50.65 and its two-hundred day simple moving average is $47.79. Semtech has a 12-month low of $39.54 and a 12-month high of $57.96.

Semtech (NASDAQ:SMTC) last posted its earnings results on Wednesday, August 28th. The semiconductor company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $137.10 million for the quarter, compared to the consensus estimate of $134.85 million. Semtech had a net margin of 7.34% and a return on equity of 12.91%. The company’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. Research analysts expect that Semtech will post 1.06 earnings per share for the current fiscal year.

In related news, Director Sylvia Summers sold 6,487 shares of Semtech stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.31, for a total value of $300,412.97. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $926,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emeka Chukwu sold 1,100 shares of Semtech stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $48.64, for a total transaction of $53,504.00. Following the completion of the sale, the chief financial officer now owns 101,583 shares of the company’s stock, valued at $4,940,997.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,717 shares of company stock worth $1,262,791. Insiders own 1.96% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS boosted its stake in Semtech by 46.2% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 141,128 shares of the semiconductor company’s stock worth $6,860,000 after purchasing an additional 44,615 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Semtech by 47.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 36,574 shares of the semiconductor company’s stock worth $1,779,000 after purchasing an additional 11,704 shares in the last quarter. California Public Employees Retirement System boosted its stake in Semtech by 49.3% in the 3rd quarter. California Public Employees Retirement System now owns 152,660 shares of the semiconductor company’s stock worth $7,421,000 after purchasing an additional 50,418 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Semtech by 28.8% in the 3rd quarter. Retirement Systems of Alabama now owns 333,983 shares of the semiconductor company’s stock worth $16,235,000 after purchasing an additional 74,759 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Semtech by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 1,613,017 shares of the semiconductor company’s stock worth $78,409,000 after purchasing an additional 90,714 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

Semtech Company Profile

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, and communications 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.

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Analyst Recommendations for Semtech (NASDAQ:SMTC)

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