Semtech Co. (NASDAQ:SMTC) Receives Average Rating of “Buy” from Brokerages

Semtech Co. (NASDAQ:SMTC – Get Rating) has been given an average rating of “Buy” by the thirteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $83.27.

A number of equities analysts have recently issued reports on SMTC shares. Susquehanna upped their price objective on Semtech from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, March 17th. Susquehanna Bancshares upped their price objective on Semtech from $69.00 to $75.00 in a report on Thursday, March 17th. Needham & Company LLC cut their price objective on Semtech from $100.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, March 17th. Stifel Nicolaus cut their price objective on Semtech from $102.00 to $95.00 in a report on Thursday, March 17th. Finally, StockNews.com started coverage on Semtech in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company.

In other Semtech news, CFO Emeka Chukwu sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, January 21st. The stock was sold at an average price of $74.28, for a total transaction of $278,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mohan Maheswaran sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $70.13, for a total value of $1,753,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 56,200 shares of company stock valued at $3,883,242 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in SMTC. Morgan Stanley raised its position in shares of Semtech by 117.6% in the 2nd quarter. Morgan Stanley now owns 104,062 shares of the semiconductor company’s stock worth $7,158,000 after acquiring an additional 56,242 shares in the last quarter. Strs Ohio increased its position in Semtech by 43.9% during the 3rd quarter. Strs Ohio now owns 5,900 shares of the semiconductor company’s stock valued at $460,000 after buying an additional 1,800 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Semtech by 1.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 41,904 shares of the semiconductor company’s stock valued at $3,267,000 after buying an additional 753 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Semtech during the 3rd quarter valued at approximately $250,000. Finally, Nordea Investment Management AB increased its position in Semtech by 130.5% during the 3rd quarter. Nordea Investment Management AB now owns 353,474 shares of the semiconductor company’s stock valued at $27,490,000 after buying an additional 200,123 shares in the last quarter. 96.62% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ SMTC opened at $62.49 on Tuesday. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 1.49 and a beta of 1.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.91 and a quick ratio of 3.02. The business has a 50-day simple moving average of $67.20. Semtech has a twelve month low of $57.97 and a twelve month high of $94.92.

Semtech (NASDAQ:SMTC – Get Rating) last announced its earnings results on Wednesday, March 16th. The semiconductor company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $190.60 million for the quarter, compared to analyst estimates of $189.34 million. Semtech had a return on equity of 17.89% and a net margin of 16.96%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. On average, sell-side analysts expect that Semtech will post 2.76 EPS for the current fiscal year.

Semtech Company Profile (Get Rating)

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 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.

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